Economy · August 4, 2022

Sales down 31.6% yoy, inventory up 81.5%

from Active calculated risk 04/08/2022 13:13:00

Today in Calculated Risk Real Estate Newsletter: Denver Real Estate in July: 31.6% YoY Sales Discount, Inventory Up 81.5%

An excerpt from a letter:

Each month I follow about 35 local real estate markets in the US and I usually post multiple markets at a time. But this is noteworthy. Sales in Denver fell nearly 32% yoy in July, compared to a 23.6% decline in June. This anticipated target market suggests that existing home sales will be even weaker in July than in June.

From the DMAR: DMAR Real Estate Market Trends Report

The data confirms that the Denver metropolitan area is no longer in an evolving market. Instead, it has shifted and the housing market is more balanced. …

Each indicator indicates that the market is approaching a buyer’s market ….

DMAR reports that total residential active inventory (detached and attached) was 7,361 at the end of July, up 21.5% from 6,057 at the end of June, and up 81.5% year on year from 4,056 to July 2021.

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