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Low levels of inventory continue to impact U.S. home sales, offering few options for aspiring buyers to choose from. Going into December there were 1.13 million units for sale, down 1.7% from the previous month but up 0.9% from the same period last year, for a 3.5 months’ supply at the current sales pace.
As a result, sales prices remain high nationwide, with NAR reporting the median existing-home price rose 4% annually to $387,600 as of last measure, the fifth consecutive month of year-over-year price gains.
Homebuyer demand is picking up, and without a significant increase in supply, experts believe home prices will likely remain elevated for some time to come.
CLICK ON THE BUTTON BELOW FOR THE FULL DECEMBER DENVER METRO REPORT.
Current as of January 4, 2024. All data from REcolorado® and IRES®.
Report © 2024 ShowingTime.
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