Homes statewide in short supply heading into peak selling season

Across Colorado, there were 20,100 active residential listings available on the market at the end of May, according to a report Monday from the Colorado Association of REALTORS. That represents a 32 percent drop in the active inventory of homes for sale versus a year ago, with about 10,500 fewer single-family homes and 2,100 fewer condos available for sale.

Sellers showed up as expected in May, with new listings up more than 10 percent compared to April both statewide and in metro Denver. But buyers quickly grabbed what came on the market.

“We had the pleasure of seeing more listings come on the market in Boulder and Broomfield counties but they were gobbled up just as fast as they were listed. We are still in a strong, seller’s market,” Boulder-area REALTOR Kelly Moye said.

Even in once quiet parts of the state, like Pueblo, for-sale housing markets have seen inventory dry up. Home sales there are up 5.1 percent and median prices are up 16.8 percent from a year ago, said David Anderson, a broker associate with Re/Max Pueblo West.

“We are way short of inventory. We had 66 homes for sale last week in Pueblo West, and that is in a community of 32,000,” Anderson said. Typically, the area has had 200 to 300 homes available for sale at any given time.

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