Denver is now a buyer's market for housing

What they're saying: "The gap between buyers and sellers is shrinking. This is a healthy rebalancing," wrote Zillow senior economist Orphe Divounguy.

The big picture: The shifting landscape comes after years of bidding wars and elevated prices in a period of significant growth during the COVID-19 pandemic.

• Denver is one of only a handful of metro areas where the housing inventory surpassed the national average.

Yes, but: Even though buyers now have negotiating power in a competitive marketplace, affordability is keeping many of them on the sidelines, particularly as interest rates remain elevated and the economy is showing signs of a slowdown.