Despite decreased buyer activity driven by normal seasonal patterns plus higher interest rates, the key stat of Months of Inventory continues to stay relatively low.
Months of Inventory (MOI) is the simple measurement of how long it would take to sell the current inventory of homes for sale at the current pace of sales.
Along the Front Range, this stat ranges from roughly 2 ½ months to just over 3. A market is considered ‘balanced’ when there is 4 to 6 months of inventory for sale.
Here are the specific numbers for Front Range markets:
Larimer County = 3.1 Months
Weld County = 2.7 Months
Metro Denver = 2.4 Months