May marked another record-breaking month for Denver’s housing market. According to the latest REcolorado report, the average home price reached $416,495 in May — a 4% increase over April and a 12% increase over May of 2014. There were 6,909 active listings for both single-family homes and condos in May. This was an 11% increase over April inventory but a 17% drop from May of 2014 inventory. “Colorado continues to see strong economic, employment, and population growth, which is bringing consumers to the market ready to buy newly-listed homes before the supply is replenished,” Kirby Slunaker, president and CEO of REcolorado, Colorado’s largest MLS, told Inside Real Estate News.