Prices increase 9%, inventory remains historically low in hot Denver housing market

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Achieving the American dream isn’t getting any easier, especially in Colorado. via RussellHaythorn

“I have been on Zillow for months and months and months,” said first-time homebuyer Olivia Reed. “It can be really intimidating to see numbers this high.”"Our offer was accepted,” Reed said.

“Of the 13 offers, five were investors,” Dysart said. “A lot are from Denver, some are from California." “Two guys, two girls, roommate situations, whatever works,” Dysart said. “They have been doing that for years, but we're just seeing more of it now."“Oh, absolutely,” Reed said. “I couldn't. It wouldn’t have been possible."“I'm excited, but you know, I'm waiting for the closing date to come," Reed said.

“That means every weekend, really, someone who's in the house hunt right now needs to go out there, tour a fresh crop of homes, probably pre-inspect them so that they're in a position to waive that inspection contingency, and then cross their fingers and hope their offer gets accepted,” said Jeff Tucker with Zillow. “It's tiring. It's hard work.”

 

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