Colorado: Denver Real Estate Inventory, Sales Dropping

Denver Real EstateThe number of metro-area homes sold or placed under contract dropped as expected in November from October, according to a housing report Friday. Not as expected was the big drop in homes and condos available for sale to 14,275 units.

Buyers had 9.6 percent fewer homes to choose from in November than they did in October, and 30 percent fewer than they did a year ago. “Under normal circumstances, a decline in inventory would be very good news,” said Boulder mortgage banker Lou Barnes.

Barnes suspects economic uncertainty has spooked sellers and buyers alike in recent months, putting a chill on the market. “Most people are really confused about the world. They don’t know what our government is up to, what Europe is up to,” Barnes said.

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