Demand in February continued to be suppressed due to higher mortgage rates with eager buyers and sellers looking ahead to the next Federal Reserve meeting. Pending listings in February closely mirrored those from the same period in 2023. In the Greater Metro Denver area, new listings surged by 19.3% compared to the previous month, representing a significant 14.9% increase over the previous year. The average price for single-family homes remained high, surpassing historical February data dating back to 2020.

Demand - Pending Sales

Demand, a snapshot of the new pending sales, increased by 9.8% when compared to last month. This data point is nearly identical to what we saw at this time last year.

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