After years of explosive price growth during the pandemic, the Denver housing market is finally beginning to shift in favor of buyers, with real estate analyst Nick Gerli noting price cuts in the city “are everywhere.”
Why It Matters
The homebuying frenzy that characterized the pandemic years, unleashed by relatively low mortgage rates and the rise of remote work, had a profound effect on the Denver housing market, sending prices through the roof. The median price of a home in the city was up by almost 35 percent in February 2025 compared to February 2020, Zillow data showed.
Now, inventory in Denver is above pre-pandemic levels, and mortgage rates are finally falling, giving potential buyers more purchasing power. As a result, the market is beginning to shift, and prices are declining.
What To Know
Denver is one of the most expensive housing markets in the country, with home prices reaching almost $600,000 across the metro.
The Colorado capital “saw a surge of buyer demand during the pandemic, which led to falling inventory, climbing prices, and a pickup in time on market,” Hannah Jones, the senior economic research analyst at Realtor.com, told Newsweek …