The spring market is in full bloom, but a lack of inventory continues to suppress the number of transactions. In other words, at most price points and locations, there are more buyers than there are homes for them to buy.
That said, there are signs that the market will follow the pattern we’ve seen the past two years: the spring frenzy cools down a bit as we move into summer, giving buyers more time and more choices.
The volume of real estate sold across all Front Range markets in April decreased 0.4% compared to April 2015, and was up 11.3% on a month-over-month basis. The inventory of homes for sale remains severely limited at 1.6 months, slightly ahead of last month’s all-time low.