Housing Inventory Hits ‘shocking’ Low in January
Since January 2021, the number of homes for sale has dropped by almost half for the same time in 2022. According to CAR’s Market Trends Report, across Colorado there are 4,151 single-family properties listed, which is a 44.5% decrease. CAR Spokesperson Kelly Moye said there are “…eight new listings for the entire month of January in Broomfield. Eight listings. That is a number that many REALTORS® carry on their own for the month, not the entire real estate community, combined.” Moye went on to say that in the Broomfield area, the price has also gone up 35% since last January. CAR’s Housing Affordability Index reported that the entire state and the Denver metro area are experiencing a drop of 22 percent, which considers factors like interest rates, median sales price, and median income by county.