DEMAND, MEET SUPPLY: Metro Denver apartment rents drop for second quarter.

Average rents decreased and vacancy rates increased in all six of the metro counties covered in the survey, which is the most comprehensive available with 120,000 units measured.

“In 2010, only 498 new apartment units were built in the entire city. Fast forward to 2016 and we’re seeing that same number being delivered every three weeks in Denver,” Teo Nicolais, a Harvard University instructor who specializes in real estate, said in the report.

Nicolais counted 9,962 new units coming into the market in 2016, the highest total ever constructed in metro Denver in a year.

Memo to California: This is what happens when you let builders build.