Trying to sell a home in Colorado is especially hard right now. Colorado homeowners are cutting prices more than sellers in any other state, as the housing market stalls under the weight of high interest rates.
In August, 32% of Colorado’s real estate listings had a price reduction, the highest share among all 50 states and Washington, D.C., according to an analysis by Denver real estate agent Cooper Thayer based on Zillow Research. Colorado was followed by Utah, Indiana and Tennessee. Overall nationally, 26% of homes for sale had a price reduction that month.
“The price-cut ranking is not just the result of an unusual August. Reductions have been elevated in Colorado for most of the last several years,” Thayer wrote in an update on Substack. “Sellers here have simply had to adjust their prices more often.”…