Denver Real Estate 2024: The Year in Review

2024 was the year the Denver market steadied itself. No boom, no bust — a slow exhale after several turbulent years. Here's how it played out.

Rates: a year of chop

The 30-year fixed started near 6.75%, climbed toward 7% in spring, eased into the low-6s after the Fed's September cut, then ticked back into the mid-6s by December. Volatile, but never back to the autumn-2023 highs.

Prices: essentially flat

The metro median finished the year close to where it started — modest strength at the entry level, modest softening in luxury. Stability, after the swings of 2021-2023, counted as good news.

The big structural shifts

• The NAR settlement changed how commissions are handled, adding transparency and paperwork from August on.
• The lock-in effect kept inventory tight all year, though listings did build through the summer.
• Buyers adjusted to a 6-7% world instead of waiting for a number that never came.

Setting up 2025

Denver heads into 2025 with steadier footing: more inventory than a year ago, rates off their highs, and buyers who have made peace with the new normal. If rates keep easing, expect a busier spring.