Downtown Denver. Flickr image coutesy of Eric Kilby.
Metro Denver heads into the prime summer season with fewer available homes on the market. The monthly inventory of unsold homes in May declined 11.1 percent year-over-year to 19,573 units. The number was virtually unchanged from April, which recorded the lowest level of inventory in nearly a decade.
The number of unsold homes per month has remained below 20,000 for six-straight months, a sign that homeowners are sitting on the sidelines because they can’t or don’t want to sell their properties.