COVID-19 Created the Hottest Real Estate Market Denver Has Ever Seen
We spoke to buyers, sellers, and real estate experts about how the pandemic set fire to an already-smoldering market.Elisabeth Kwak-Hefferan •
Feeding frenzy. Dogfight. Gold rush. Pick your favorite metaphor for the Colorado housing market these days: They all capture the intensity of an era that’s seeing more and more people swarming to buy fewer and fewer available homes, sparking bidding wars and pushing prices to record highs. From the pandemic’s beginning in late winter 2020 up through press time in early April, desperate buyers have been considering raiding their retirement accounts in an attempt to compete with cash offers. Modest homes that would’ve sat on the market for weeks or months in other years have been going under contract within hours of listing. Out-of-staters have been signing contracts before even seeing their new houses in person. And with buyers battling each other, those with p