Denver's housing market is slowing, with median home prices rising slightly to $615,000, but closed sales dropping over 4% monthly and nearly 7% yearly. Listings are down, yet homes stay on the market longer, increasing inventory by 75% compared to last year. High mortgage rates deter sellers from moving and challenge buyers' affordability. The market is more balanced, reducing bidding wars, benefiting buyers, while sellers must price homes well to sell. The slowdown is expected to continue until rates decrease.