Nationally, new home inventory as a percentage of the total inventory just hit a record high. 26% of all properties currently available for sale are brand new homes.
To put this in perspective, in 2018 it was 14%. From 2000 to 2008 it bounced between 10% and 15%
Locally, we notice even higher numbers.
In Larimer County, 29% of all inventory is brand new. In Weld County, it is a whopping 35%.
The reason why the percentage is high is not so much because of a surge in new construction, but because the amount of re-sale properties listed for sale is so low.
The Front Range has an under-supplied market, especially when it comes to re-sale properties.