Real Estate Market Report

Builders scramble to adapt to changing consumer trends & overcome COVID delays, but Denver home building activity remains below last year's. Consumer trends are changing, and home purchases are coming in at a frenetic pace. In this article by Housing Tides, HBA of Metro Denver compares 2019 & 2020 permit data, emphasizing 2020's slower pace which is leading home builders to adapt quickly in order to overcome year-end challenges. 2020's Rough Start: Home Builder Production Set Back by Over Two Months When the COVID-19 pandemic hit in March of this year, the Denver Metro Area’s home building industry was stunned. Builder sales offices were open on a very limited basis. Uncertainty gripped the marketplace. Builders paused production. How could operations be mad...

Another month rolls in with a familiar story line for Denver Real Estate. Low inventory and high buyer demand are driving record breaking numbers. The current active listings represent the lowest number we have seen in any September, by nearly 2,000 units. For detached single family homes, that number is a mere 3,000 homes, down 8 percent from August and 50 percent year-over-year. Generally, the fall brings a lull in buyer activity and active listings. However, with people spending more time at home, a high percentage of kids virtual learning, and the influx of people moving to Denver, it appears that will not be the case this year. Low Real Estate Inventory Across the City of Denver There are several reasons for the low inventory. Sellers are equity rich, with the ability to ride...

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The COVID Effect: Denver Home Building Activity Lags in 2020

Denver Real Estate Market Pulse – October 2020