Similar Stories to Colorado Real Estate Market Cools In June As Inventory Rises, Prices Stabilize on Bing News

Sara B. Hansen, Denver Post: Business
Fri, 07/19/2024 - 1:36pm

Despite a 22% increase in active listings statewide year-over-year, closed sales dropped 14% over the same period. The Colorado Association of Realtors said in its June report that housing affordability remains challenging as prices continue to climb, interest rates remain high, insurance rates rise, and property taxes increase. Summer’s busy sales season appears to have peaked early, said Denver-Douglas County realtor Cooper Thayer. “Market activity showed a sharp decline in June, indicating we’ve reached this year’s seasonal peak,” Thayer said. “With more homes on the market and less incentives for buyers to move quickly, we can expect prices to cool quickly entering the fall,” Thayer said. Realtor David Anderson said the Pueblo market didn’t experience a spring selling season. “And we continued our downward trend over the first half of the year with new listings down 15.6% compared to June 2023,” he said. “However, year-to-date, we are only down 3.5%.

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