While the number of homes for sale increased 10% in July, new listings and the number of homes sold plateaued, according to Tracy M. Cook of The Denver Post.
Those drops in new listings and homes sold were accompanied by decreases in both average and median home prices, according to a report Thursday from the Denver Metro Association of Realtors.
The problem, according to Cook, is affordability as people can't afford the higher priced homes hitting the market.
Single-family home prices had been rising since January. But those increases are pricing more and more people out of the market. (Additionally, rents in the Denver metro area hit an all-time high in the second quarter.)