Denver Homes on The Market Continue to Decline

Central Denver’s available inventory continues to fall as unsatisfied sellers and overwhelmed banks withhold homes.  December shows an almost 40% decrease in available inventory compared to the previous December.

Our analysis shows that the drop in inventory cuts across all price points as well.  The absorption rate is the number of months it would take to sell the current housing inventory at the rate at which homes have sold over the past 12 months.  For Denver the absorption rate has dropped 56% for homes over $1 million and 51% for homes under $200,000.

Most analysts attribute the decrease to frustrated sellers with expectations that the market cannot meet and to new government regulations on banking foreclosure procedures.

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