Inventory of metro homes for sale plunges
By Margaret Jackson The Denver Post

The number of metro Denver homes on the market reached a new low in September, plunging 26.5 percent compared with a year ago as many homeowners decided now is a bad time to sell, according to Metrolist data released Monday. The economy, foreclosures and short sales still on the market and the difficulty buyers have qualifying for a loan are among the reasons the inventory plummeted to 17,139 homes for sale last month, said independent real-estate consultant Gary Bauer. “Right now, there is the appearance that the home sellers are saying, ‘With everything that’s going on, I’m not going to put my home on the market because I will not have multiple choices to look at when I sell my home,’ ” Bauer said. Even so, the number of homes sold in metro Denver in September jumped 12.8 percent compared with the same month a year ago, according to data released Monday. But the 3,337 homes sold was 16 percent less than the 3,973 homes sold in August. “School’s back in, people are getting settled and that affects sales,” said David Simonson, a broker for ReMax Professionals LLC. “I can’t picture that being a trend. I won’t read a whole lot into one month’s numbers.” The median price for a home in metropolitan area was $229,804, down 2.2 percent from August and essentially flat compared with the same month a year ago. “Prices are very reasonable,” Bauer said. “We haven’t seen any major adjustments.”