Every week, the Principal Team publishes analysis of the Denver metro real estate market for the people who actually need it — buyers and sellers making decisions right now. We pull from REcolorado MLS data, DMAR reports, and our own transaction-level experience working with clients across the Denver metro area to answer the questions you’re actually asking: where are prices moving, what are rates doing, and how do national headlines translate into what’s happening in your neighborhood. We don’t editorialize beyond what the data supports, and we don’t pretend the market is simpler than it is. If you’re trying to make a smart decision about a home in Denver, this is where we’ll help you think it through.
Welcome to Market Intelligence.
I pulled every listing in our seven counties that left the market during the first 29 days of July, going back four years, and sorted them into two piles: the ones that closed, and the ones whose listing agreement ran out without a sale. The results are surprising.
Which metro county has cooled the most since the pandemic? And how does metro Denver compare to Austin and Chicago? Let’s take a look at the rate at which homes are selling and compare it to those cities and our area before and during the pandemic.
Interest rates are up today and that has us thinking about affordability. The median home in Metro Denver sold for $616,000 in June. The median household here earns $108,046 a year. Whether those two numbers can meet is the question underneath most conversations about our market, and the answer is less comfortable than a year of roughly flat prices might suggest.
Buyers are competing in one part of the market and hesitating in another. In fact, the market is splitting in two with one group of homes increasing in price, while the other declines. What’s happening with detached homes versus attached homes in metro Denver?
The buyer who skips the cookout to tour a home on the third or the fifth is there to buy. That person gave up a day they could be at the pool, a ballgame or a museum to look at your kitchen. Agents around the country say the same thing every July: the holiday crowd is smaller. And it is the most committed group of the season. Fewer buyers walk through the door this week. The ones who do are ready to write an offer.
For two years the headlines have announced that inventory is back and the market has tilted toward buyers, and the raw count supports that. What gets lost is that a fuller pool of listings doesn’t mean every home competes equally.
Agents and analysts use a rough rule for months of supply – under about five months favors sellers, while over five months favors buyers. By that measure, in the same city and the same month, detached houses are a seller’s market and condos and townhomes are a buyer’s market. The affordable half of Denver is the half where buyers hold the leverage.
National forecasters revised their 2026 outlook over the past few weeks. Mortgage rates are now expected to hold in the mid-6s instead of the low 6s, and projected existing-home sales were trimmed from 4.5 million to 4.2 million. The one number they left alone was the price forecast. They still expect home prices to rise nationally this year, on the reasoning that there aren’t enough homes for sale to push prices down.
That reasoning doesn’t fit Metro Denver.
Last month we flagged a market splitting in two, with detached homes moving and attached homes stalling. In May that split widened far enough to bend the one number everyone reads. A median doesn’t measure how much any single home gained. It measures the price of whatever sold in the middle of the stack, so when the cheaper end of the market stops transacting, the middle floats up on its own, and not one home has to appreciate for it to happen.
ATTOM’s first-quarter mortgage report landed this week, and the headline number is a real one. Lenders originated 581,261 home-purchase loans nationwide, the fewest in any quarter since 2014. New home sales told the same story, down 11% from a year ago in April. On paper, it reads like the buyers left.
The 10-year Treasury yield touched 4.7% this week, its highest in 16 months, before settling back near 4.60%. That number may sound like financial-pages noise, but it’s what your mortgage rate is built on. Bloomberg’s read of it is worth sitting with: the forty-year slide in long-term yields that quietly subsidized housing for a generation looks like it’s over.
We ended last month with 11,539 homes for sale across Metro Denver, up 17% from the month before. DMAR is leading with that figure, and the trade coverage is already calling it an inventory surge. Fair enough. But the metro area isn’t one market, and one number can’t tell you what’s happening on your street.
A 15-minute phone call can help you decide whether it’s the right time to move forward with a sale and whether we may be a good fit.
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