Sellers are driving the decline in the amount of homes that are up for sale according to the December Market Trends Report from the Denver Metro Association of Realtors. The inventory of homes and condos available for sale in metro Denver plunged 27.9% from November to December, which was a record monthly decline.
“The main reason we saw fewer choices was not because more (homes) were going under contract or selling, but because nearly 30% fewer new listings came on the market in December compared to the month prior,” said Jill Schafer, chairwoman of the DMAR Market Trends Committee in a release accompanying the December report.
It is undetermined if the decline is due to unmotivated sellers because fewer people are looking to leave Denver or possibly because some don’t want to lose their already low interest rate. Many might be waiting to sell until the weather turns, which could give way to an abundance of listings come spring.
Read the full article by The Denver Post here.
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