No Relief in Sight for Home Inventory

While the appreciation in home pricing has moderated some, the low inventory still remains an issue.  The Denver Business Journal reported that in December there were only 3,854 total listings, a reocrd low in the Metro area.  The Average home sold reached $434,087, a record high.  57,788 total homes closed in 2017, beating 2016 record by 2.39%  A total of $25 billion was the closing volume for 2017.  While we hope that a range of more affordable housing optins will start hitting the market in 2018-19, the relief  won’t come instantly.  It takes time to build with construction labor shortages still a constant theme.

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