Comment on Denver housing market stays sluggish in September despite rate cut

Denver housing market stays sluggish in September despite rate cut

Home buying activity remained sluggish in September despite a mid-month half-percentage point interest rate cut and more homes being available. According to the September report from the Denver Metro Association of Realtors, the months of available inventory crossed the three-month mark for the first time since the pandemic. For comparison, in June 2023, the metro had 1.25 months of inventory. The number of active listings, at 11,115, is up 4% from August’s 10,724 and 46% from September 2023’s 7,629. The average number of active listings for September 1985-2021 was 15,253, while the record high was 31,450 listings in 2006, and the record low was 3,971 in 2021.

 

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