Metro Denver, which encompasses 1.4 million households, had fewer than 1,500 homes for sale at the end of 2021, compared to 2,541 last year, according to the latest data from the Denver Metro Association of Realtors.
What they're saying: "Demand is not slowing, it is only limited by what is for sale," Nicole Reuth, a producing branch manager for Fairway Independent Mortgage in Englewood, said following the DMAR report presentation.
If you're looking for a home that's more affordable to buy than rent, consider broadening your search outside of the metro Denver area.
Why it matters: Even with home prices continuing to climb, the affordability gap is narrowing, which may signal the imminent end to what's been a steady run-up in home prices.
Denver was ranked 9th on Realtor.com's list of top housing markets positioned for growth last year, but the city dropped to No. 48 for 2022, as the site predicts a cooldown in the metro area.
By the numbers: Sales are projected to drop roughly 7% compared to 2021.
A shadow looming over downtown Denver, when it comes to its health and economic well-being, appears to be darkening with the dawn of 2022.
Why it matters: Urban centers help define cities and attract tourists, conventions and companies. As the biggest city in the state, Denver is core to Colorado's economic development.
The statewide spike in home values means massive gains in Coloradans' equity, per a quarterly report from real estate data firm CoreLogic.
Between the lines: That puts money in pockets, with the average local homeowner gaining $78,000 in equity through the first nine months of the year.
November's home inventory hit a record low for the month, the latest update from the Denver Metro Association of Realtors revealed.
Details: Listings dwindled, with inventory down by roughly one-third from the month prior. The scarcity is so serious that single-family home prices returned to the record highs reached this summer, per the report.
Trey Parker — the co-creator of "South Park" and new owner of Mexican-themed restaurant Casa Bonita — is now a property owner in Morrison, Axios has learned.
Details: Jefferson County public records show four plots at 105 Canon St. were purchased for $875,000. The general warranty deed grants the property to the Embury Etcetera Trust, which shares the same address as Parker's personal company, Furry Balls, Inc., and is managed by Kevin Morris, Parker's lawyer.
As housing prices have swelled, the possibility for strong returns wooed investors to buy up a record 18.2% of available single-family homes across the country in the third quarter, worth roughly $64 billion, a recent Redfin study found.
Zoom in: Metro Denver's numbers were a relative reflection of national averages, with investors plucking 17% of homes, a jump from their 9% market share in the same quarter last year. The median price investors paid for a Denver home was $508,700, per Redfin.
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