Northern Colorado Market Halts and Starts Again

Many factors are at play in what CAR spokesperson Chris Hardy says is a boom-start-boom market. Consumer’s competing offers in March and April were followed by a housing market break and family vacations in June. CAR’s Market Trends report for June shows a different story than what REALTORS® are seeing in the field. In 2021, there was only two weeks’ worth of inventory on the market, and in 2022, the number is two months. REALTOR® Eric Thompson says, “The reason we’re not seeing that yet in the numbers is that properties closed in June went under contract in April or May, during a more fast-paced market,” he said. “Over the next 60 days, the pace of price appreciation will slow down and days on market will start to change.”

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