#616: Denver’s 2026 Market Feels Weird Right Now… Here’s Why

The Denver housing market April 2026 update shows a familiar story. Prices have been flat for three straight years. Rents have softened back to levels not seen since late 2021. So where does that actually leave Colorado investors right now? Chris Lopez brings the full panel together for this monthly update. Jenny Bayless covers the Colorado Springs market as both a broker and active investor. Jeff White of Envision Advisors tracks Denver’s small multifamily market closely. Brandon Scholten manages over 1,000 units at Keyrenter Denver and owns rentals himself. Troy Howell of Nova Home Loans rounds out the group with a lender’s perspective across Colorado. The panel works through the DMAR April report together. Denver’s median closed price sits at $605,000 this month, essentially unchanged from $604,000 in April 2025 and $602,000 in April 2024. In inflation-adjusted terms the market is down. Detached single family is holding, up about 1% year over year. The average condo price is down nearly 5% year over year. In the Springs, the median sits at $480,000 with sales up 8.5% month over month and month supply at 3. Rentals get a close look too. Concessions are up. Rents have pulled back to near Q4 2021 levels. The panel then turns to co-living and room-by-room rentals. Operators who bought into the model three to four years ago are now trying to exit. Co-living property managers typically last 6 to 12 months. PadSplit requires roughly a $30,000 retrofit, furnished rooms and ongoing maintenance responsibility — and the exit problem may be just as significant as the operational one. In This Episode We Cover: Why the Denver housing market’s April 2026 data shows prices flat for a third straight year How rents have pulled back to late 2021 levels and what landlords are doing about it Why co-living operators are looking for the exit and what the PadSplit model actually costs Governor Polis’s push to cut Colorado’s average $4,200 homeowner’s insurance premium by $800 What 22,000 YourCastle transactions revealed about the NAR commission settlement Jenny’s decision to sell and pay down debt, and Jeff’s 10th house hack in West Denver If you invest in Colorado real estate or are watching the Denver housing market in April 2026, this episode covers the data and decisions that matter right now. Subscribe for monthly market updates every month. Watch the Youtube Video https://youtu.be/kB-TT_tl78Q Timestamps 00:00 Welcome and Panel Introductions01:31 Colorado Springs Market Data — Median $480K, Sales Up 8.5% 03:10 Springs Condo Trends — Prices Starting to Recover09:04 Rental Strategies in a Soft Market — Flat Renewals and Two-Year Leases13:30 Denver Market Overview — 11,500 Active Listings15:21 Three Years of Flat Prices — Detached Up 1%, Condos Down 5%18:02 Condo Financing Challenges — FHA Hurdles and Fannie Mae Changes 28:30 Showing Data — About 5 Showings Per Property in Both Markets25:52 Co-Living Reality — Why Operators Are Trying to Exit29:08 PadSplit Breakdown — $30K Retrofit, Furnishing Costs and the Exit Problem36:20 Medium-Term Rental Demand — Two Years of Data38:20 Brighton Co-Housing — Gratitude Village and 35 Communities in Colorado41:04 Colorado Insurance Bill — $4,200 Average Premium, $800 Reduction Target46:25 NAR Commission Data — $70 Buyer-Side Difference on a $500K Purchase56:08 Jenny Sells a Property and Pays Down Debt59:40 Jeff Closes His 10th House Hack — Two Houses on One Lot in West Denver 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/ Jenny Bayless: [email protected] Jeff White: [email protected] Brighton project aims to pioneer fully accessible, net-zero cohousing in Colorado Polis wants home insurance premiums to drop by $800, but can he do it? Your Castle Real Estate DMAR 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