Increase in Colorado Home Inventory Good News for Buyers and Sellers

Earlier this Spring the inventory of homes was at all time lows, bouncing around the 5,000 to 6,000 homes mark.   Compare this to over 20,000 homes on the market just a few years ago.  While the low inventory provided a healthy push in home prices, it also left a lot of buyers out of the game because competition over the few homes on he market was fierce.   If you were a buyer this Spring you know exactly what I’m talking about —multiple offers on nearly every listing!

With the quick sales and rising prices you would expect to see sellers clambering to list their homes.    What we discovered was that sellers were having a terrible time finding replacement homes so they were not selling their existing home.

Thankfully, June and July have seen a steady increase in home inventory, with just over 10,000 homes on the market at the end of July.   If you were looking for a home earlier this Spring and frustrated by the lack of available homes, it would be a great time to get out and take another look.  It’s also a good time for sellers who were worried about listing their home and not finding a replacement.

 

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