July 2021 vs July 2020
Because home sales were so depressed in the first half of 2020, it has been difficult to measure this year’s sales against last year. July 2020 was a barnburner because of pent-up demand after the COVID-19 shutdown. Now we are finally comparing apples to apples for two hot months (no pun intended) without the drag of the pandemic, we see that the reduced inventory has indeed taken a toll on home sales in the Denver Metro area. Sales units were down 15.24%, Inventory down 21.17% and Pending Sales down 20.04%. We will continue to see a strong sellers market until builders catch up with demand or less people move to Colorado. The population shift caused by flight from cities racked by COVID-19 and violence has swelled the population of the mountain states dramatically. With so many jobs going virtual, employees are able to work from anywhere with an internet connection. The Denver area has a strong bonus: Denver International Airport, which is major hub for travel, provides quick access to the country and the world.
The Rowley Group at Coldwell Banker Realty is providing this special comparison of July 2021 vs. July 2020. To see more detailed statistics for all the counties, cities & towns and selected subdivisions, please visit the Market Statistics tab on our website: Market Statistics. We break down each selection by price ranges and date. The posted history goes back several years for those who want to look for trends.
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