This month’s stats and graphics tell it all. These stats are compared to previous month. While inventory is up 4.3%, we still have less than 1 week of inventory on the market (which means all units will be under contract in less than a week). The inventory shortage is nothing new… a balanced market needs 6 months of inventory but the greater Denver area has been short of that for the past 6 years and worsened in the past 3 years and to extreme levels in the past 18 months, causing prices and competitive bidding to rise at meteoric levels. While the Fed is raising interest rates to curb demand, we simply have far too few homes to sell to all the buyers wanting to enter the market and those wanting to upgrade. If we could wave a wand to fix it, we would magically produce thousands more units per year than we are. We simply cannot build fast enough to supply the demand.