Home sales slid across Colorado in September

Home sales aren’t just slumping big in metro Denver, they are dropping across much of Colorado and in what were some of the hottest markets in the country.

Existing home sales in the United States fell 3.4% in August from September to a seasonally adjusted annual rate of 5.15 million. Year-over-year, they are down 4.1%, according to an update Friday from the National Association of REALTORS®.

“A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases,” Lawrence Yun, chief economist, said in the report.

Last week, the Colorado Association of REALTORS® reported that the number of single-family home listings sold in Colorado dropped 14.6% in September compared to the same month a year earlier. Sales of townhouses and condos dropped 15.2%.

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