The number of single-family homes and condo townhomes for sale increased 44% from May to June 2022, but median home sale prices are up more than 10% both locally and statewide.  REALTORS® around the Denver-metro area provide some reasons why and explain how buyers are adapting to a new real estate market.

“As fears of inflationary pressures reach households through the grocery store and gas pump, home buyers have adopted a more cautious attitude,” said CAR Spokesperson and Douglas County REALTOR®  Cooper Thayer.

CAR Spokesperson Chris Hardy in Fort Collins further explains: “Regardless of what the numbers tell us, the reality is there are still large numbers of buyers driving demand for housing in spite of key variables that include summer travel, inflation, rising gas prices, and rising interest rates.”

Kelly Moye, CAR Spokesperson from Boulder and Broomfield, finds that the buyer experience has improved. “I can report that buyers do have a little more time to think about a purchase, they don’t have to remove every contingency and those with low down payments actually have a shot at getting a home.”

“…as buyers get used to higher rates, it appears our markets will remain strong,” said Moye.

Courtesy of Colorado Association of Realtors