The August 2026 Denver real estate market is telling two very different stories at once. Nearly 12% of every home listed for sale in Colorado is now priced below what the owner originally paid. In Denver County, that number climbs to 19%. As a result, buyers, sellers, and investors are rethinking how they approach the rest of the year.
Chris Lopez sits down with Troy Howell of Nova Home Loans and Brandon Scholten of Keyrenter Denver to break down the August DMAR numbers. Closings across all residential dropped 17% year over year. Meanwhile, attached sales fell 23.5% while detached held closer to flat. Prices tell a K-shaped story. On one side, detached average is up 1.7%. On the other, attached slid 4.3%. In addition, inventory is moving in opposite directions depending on property type.
Next, Brandon walks through the softening rental picture. Robinwood Section 8 rents fell from roughly $2,800 down to $1,900 after housing authorities tightened reasonableness adjustments. He also flags a real uptick in small multifamily buyer inquiries. For example, an Uptown studio is renting for $685 with a free month, effectively 2016 pricing. On the lending side, Troy shares that he has closed more second mortgages this year than in the prior five combined. Most are 20-year fixed products in the 7s. As a result, clients can keep their COVID-era first at 3% and still tap equity.
Finally, the conversation closes on a duplex Jeff White just helped a first-time house hacker close. The purchase price came in at $660,000 with an FHA loan, down payment assistance, and an $11,500 seller credit. All-in cash came in under $10,000. On top of that, the property appraised $5,000 over.
In This Episode We Cover:
- Why detached and attached are behaving like two different markets
- The Section 8 rent reset hitting Class C condo investors hardest
- How second mortgages are letting COVID-rate owners tap equity without a refi
- Why buyer sentiment is soft even as opportunities open up
- The $10K all-in duplex deal that closed in August
- Why almost nobody is submitting lowball offers despite 40+ day market times
Whether you own attached inventory, are hunting for your next deal, or want a clear read on where the Denver real estate market is headed into fall, this episode gives you the data and the on-the-ground perspective to move forward.
Watch the Youtube Video
Timestamps
00:00 Intro and panelist welcome
01:27 August DMAR stats, closings down 17% year over year
03:57 Detached vs attached, the K-shaped split
05:25 Buyer sentiment and who’s still pulling the trigger
08:34 Small multifamily activity picking up
14:20 Condo Inventory Builds
17:32 Robinwood Section 8 rents drop from $2,800 to $1,900
25:04 Uptown studios renting at 2016 prices
28:13 11.8% of Colorado listings underwater, 19% in Denver County
30:04 Second mortgage surge, Troy’s biggest year for HELOC seconds
36:56 Why nobody’s putting in lowball offers
38:52 Jeff’s $660K duplex closed for $10K all-in
Links in Podcast
- Troy Howell:[email protected]
- LinkedIn: Troy Howell
- Website: https://www.novahomeloans.com/loan-officer/troy-howell/
- Brandon Scholten: [email protected]
- Website: https://keyrenterdenver.com/
Uptown studio under $700: Apartment CEO renting Denver units at 2016 prices
Who is Keyrenter?
Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them.
Who is Nova Home Loans?
For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today!
NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO
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