Metro Denver’s housing market usually slows around the holidays, and for the second year in a row, November experienced a big drop in both new listings and sales, according to a monthly update from the Denver Metro Association of Realtors .

Sellers put 2,620 homes on the market last month, which is 41.4% fewer than the 4,470 listed in October. For the year, new listings are down 4.6%. A year ago , the monthly drop was almost identical at 41.5%, with the annual change up 1%.

Buyers also continue to hold back. Closings fell 23.4% month-over-month and are down 13.2% year-over-year in November. That contrasts with monthly declines of around 16% the prior two Novembers.

With new listings down more than sales, the inventory of homes and condos on the market fell 15.9% in November to 10,50

See Full Page