Denver Metro housing had a record low number of homes for sale at the end of February, but an increase in sales can’t be blamed for low inventory.
There were 3,878 residential properties available for sale at the end of February, the lowest monthly total in records going back to 1985. The inventory was 2.14 percent below the previous bottom reached in February 2016, according to a report Friday from the Denver Metro Association of Realtors.
“It is incredibly low,” said Steve Danyliw, a Denver real estate agent and chairman of DMAR’s Market Trends Committee, which compiles the monthly housing market update.
The new low came despite a 19.25 percent year-over-year surge in the condo inventory last month. That wasn’t enough to overcome a 7.6 percent drop in the inventory of single-family homes available for sale.
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