Metro Denver remains a strong seller’s market despite an increase in the number of listings this year, Zillow said.Sellers may have to negotiate a little more than before, but they maintain a strong grip on metro Denver’s housing market, even as other once-hot areas like Miami and Honolulu shift in favor of buyers, according toThe index measures whether sellers or buyers dominate a given market or if a market is “neutral” indicating a balance between the two sides.
So why wouldn’t so many buyers getting priced out shift the balance of power? New construction in Colorado isn’t rising enough to meet demand as it is in states like Texas and Florida, which are shifting more toward the neutral or buyer’s camp. And metro Denver, despite its higher price point for homes, remains attractive for those relocating from California, which is even more supply-constrained and expensive.
California, due to inadequate construction, remains a strong seller’s market, particularly San Jose, San Francisco and Los Angeles, and that could be putting pressure on surrounding areas like Seattle and Denver.