Metro Denver’s housing market has quickly shifted from a strong seller’s market to neutral and could end up solidly in the buyer’s camp by the middle of next year, if not sooner, according to a new index from real estate financial tech firm Knock.
“Denver is now a neutral market. Prices are getting softer. We think it is headed to a buyer’s market,” said Sean Black, co-founder and CEO of Knock, a New York-based “Power Buyer” that helps consumers make cash offers on homes.
Nearly all of the 100 largest housing markets moved more in favor of buyers in July, with the biggest shifts coming in Boise, Idaho; Phoenix; Colorado Springs, and Austin, Texas, which has seen a 71% jump in home prices during the pandemic, according to Knock’s inaugural “Buyer-Seller Index.”
