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For every ten homes newly listed for sale in Denver in October, four were removed from the market without being sold. According to a new report from Realtor.com, this city had the second-highest rate of delistings nationwide that month, with 39 delistings per 100 new listings. That’s up from 30 in September and 24 at this time last year.
“The delisting trend is a perfect personification of the stagnant and frustration-filled housing market,” economist Jake Krimmel explains in the report. “With buyers and sellers far apart, the sellers’ solution is to pull that trump card and delist, rather than cut prices.”
Readers house plenty of other opinions about the local real estate market, as evidenced by their comments on the Westword Facebook page. Says Nate:
Gee, it’s almost like the housing market in Denver is a bit overpriced. Man, I never would have thought that if this report hadn’t popped up.
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Adds Array:
This is actually a great thing for those people who thought they wouldn’t ever be able to afford a house. Prices will have to drop if people are motivated to sell and move.
Responds Moh:
Problem is, now private equity groups buy more when the prices drop. Then rent the homes…
Counters Chris:
Not exactly. This just means sellers don’t “need” to sell and are willing to wait out the market.
Offers Judy:
It’s a buyer’s market now and not a seller’s. That’s nationwide. It’s not a favorable time of year to sell with holidays and winter.
Notes Samantha:
When your house is a shack from the ’70s with carpet in the bathroom, it’s not worth triple the value.
Adds Chase:
Sorry your shed isn’t worth a million dollars. But wait….50-year mortgages could help!
Suggests Brian:
Just wait till interest rates drop a couple points. It’s going to go bananas again. Right now may be the best time to buy.
Concludes Andy:
If I was a buyer in Denver, I’d be all over it…. Hasn’t been this good a time to buy in a very, very long time here…
Are you trying to sell a house in Denver? Buy a house? What do you think of the current market? Post a comment or share your thoughts at editorial@westword.com.
