It's really good news that for the first time in several months the drop of inventory of homes on the market for sale in Metro Denver has stopped its incredible slide. Why is this good news? The levels of inventory were starting to go below levels of a normal market. The concern was that we could have found ourselves in a gridlock with nothing happening in the residential housing market. If someone wants to move up or downsize, but there is nothing on the market for them to buy, then their current residence does not go on the market for sale either. It's that simple.
The number of single family detached homes on the market in the Denver Metro area at the end of March 2012 rose 2.73%. The inventory was down 3.28% in February, down 5.62% in January, and down 13.31% in December 2011.
Inventory of townhomes and condominiums remained fairly constant with less than a 1% increase in inventory.
Below are the stats from Denver Metrolist.