Active listings in the Denver Metro area were down by over 40% in December 2011, from the previous December. See the report below from the Denver Metrolist. That to me would indicate that the sellers may have more leverage than they did previously. Could it be that it was just the time of year with the holidays and all? Probably not, since December in the previous year was also "that time of year" right?; obviously :), so that really shouldn't matter. What would make more sense is that perhaps many homeowners have decided to hold onto their homes, if at all possible, since the majority of them are probably overencumbered and owe quite a bit more than what they could get from a new buyer. If you are a seller that has built up plenty of equity over the years, this may be as good of time to sell as any time approaching in the coming year. If you would like to check out your options, please contact me for a professional opinion, with no obligation.