In Denver 1652 properties came on the market in the last 7 days while 1705 had contracts accepted and went off the market. There is still more demand in the Denver Real Estate market than supply. In addition 187 were withdrawn from the market. More homes are selling in Denver than those going on the market. Therefore, new home builders will rush, from across the country to fill the void. Builders we have never seen or heard of before. They will need land and that land will need to be developed with curbs & gutters, street lights, sewers, and power, so that is good for the local economy. But watch the no name builders. They are not always as good as they appear. Another thing to watch are the sales reps will be moving and so will your main contact. It is good to have a Realtor involved.
Here is a chart showing Denver’s average sale price with a trend line imposed: