Pending sales also decreased compared with September and October 2025, while new listings fell 16.70% month over month and 9.02% year over year. 

Looking ahead, Cotality expects the median price of a home to rise 0.9% through September 2027. 

In Denver, home prices slid 0.76% year over year and 0.46% month over month in August.    

Economists were expecting a monthly decline in the annual sales rate. 

More inventory and increased negotiating room are shaping the Denver Metro housing market as the market settles into a new rhythm, according to the Denver Metro Association of Realtors®’ September Denver Metro Real Estate Market Trends Report. Closed sales

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S&P Dow Jones noted that although prices rose almost 2%, in real terms, they were down, thanks to inflation, which registered 3.4% in July. 

New-home inventory fell to its lowest level since December. 

The month-over-month bump in contract signings was still below the pace of last August. 

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In Denver, buyers who wait until the last week of September to buy stand to see 30.4% more active listings.

At the same time, the median-sales price rose again, as months’ supply of homes for sale hit a 10-year high. 

The increase in purchase activity offset a decrease in refinancings. 

The pace of home-price growth rose nationally but with significant regional differences.

Buyers are reportedly looking for homes that reflect how they actually live, not how they could be living.

Active buyers are looking for more expensive homes, while price-constrained buyers are looking at fewer homes altogether.