Draft day in Denver ended with a yawn.

But behind the scenes, the Nuggets were pleased by their anticlimactic outcome.

On the clock Tuesday night with the 26th pick in the NBA Draft, the Nuggets chose to trade out of the first round, beginning to replenish an asset pool that was drained by the previous front office regime. San Antonio moved up to No. 26 in exchange for giving Denver the No. 35 overall pick in Wednesday’s second round and two additional future second-round picks.

Denver now controls a 2028 Minnesota second-round pick and a 2031 Sacramento second-rounder, according to league sources. The Spurs selected Connecticut big man Tarris Reed Jr. at No. 26. The Nuggets will go into Wednesday with two picks — 35th and 49th. Multiple teams had already called them to inquire about No. 35 by the end of Tuesday night, one source told The Post.

Co-general managers Jon Wallace and Ben Tenzer have less than 24 hours to decide if they want to use that pick or parlay it into more future draft capital. Part of their rationale for trading back, multiple team sources told The Post, was that they felt the 2026 draft class had a substantial drop-off in talent around No. 20.

What the Nuggets eventually do with their new picks will determine how Tuesday’s trade is evaluated. Second-rounders are often used as trade assets rather than to select playable talent, and Denver’s shortage of them has inhibited its ability to get involved in trade conversations around the league recently. Wallace and Tenzer inherited the NBA’s most depleted war chest when they took over the front office in 2025, whereas adversaries like Oklahoma City and San Antonio are practiced in the art of asset accumulation.

If one first-round pick can slowly grow into a wider swath of lower-quality picks that can subsequently be put to good use in other trades to improve the roster, then No. 26 will have been a worthy sacrifice. That could take lots of time, hard work and negotiating tact.

But the Nuggets are also faced with awkward luxury tax decisions this offseason, and they’re tied to multiple contracts that are widely perceived as having negative value, namely Christian Braun and Zeke Nnaji. If they promptly use their new picks to dump either of those salaries without bringing back any helpful players, it would be a clear indicator that team ownership is prioritizing tax savings over roster improvement.

The front office’s challenge will be to balance and accomplish both goals, which tend to be at odds with each other. At least one salary-shedding move is essentially guaranteed to occur as Denver attempts to retain Peyton Watson in restricted free agency, as The Post reported in April.

Wallace and Tenzer still have not made a draft pick yet in their tenure. For now, Denver will treat it as a win if they can stockpile future picks and right some old wrongs. A seemingly tedious trade elicited applause inside the Nuggets’ war room Tuesday, even as team president Josh Kroenke was caught on camera looking disgruntled by something. His bemusement, according to a source, was in response to some confusion on the other end of the line as Denver was trying to call in the 26th pick on behalf of the Spurs.

San Antonio walked away from the first round with two prospects secured in Reed and Jayden Quaintance. Oklahoma City snagged Aday Mara 12th and Bennett Stirtz 16th — sobering reminders that talent is going to keep on flowing into the two rosters that pose the biggest existential threats to Denver.

Nuggets recent draft history

The Nuggets haven’t drafted in the top 20 since 2018 — the cost of becoming a perennial playoff team as Nikola Jokic entered his prime. They’ve gotten mixed results from their late first-round picks since then, which is typical at that stage of the draft. Five of their six first-rounders this decade are still on the active roster, though only two of them were in the everyday rotation last season: Christian Braun (21st) and Peyton Watson (30th), both of whom were selected by former GM Calvin Booth in 2022.

Nnaji (22nd in 2020) is the third-longest tenured player on the team, but the four-year, $32 million contract extension he signed in 2023 has turned out to be a small-scale albatross on Denver’s cap sheet. Bones Hyland (26th in 2021) was shipped off to the Clippers at the 2023 trade deadline after he caused locker room frustration by walking off the bench during a game. He plays for Minnesota now.

The NBA Draft kicks off Tuesday night at the Barclays Center in New York.

The Nuggets, who own the 26th overall pick, are looking to improve a team that was eliminated in the first round of the playoffs for the first time since the 2021-22 season.

Here’s a look at who national draftniks are thinking will land in Denver.

The Athletic | Zach Harper | Updated June 23

Sergio de Larrea, guard, 6-6, Valencia

“It’s hard to say whether the Nuggets will have the roster flexibility to use this pick or if they kick it down the road by trading it. This team needs offensive creation outside of what Nikola Jokić does. Jamal Murray is more of a scorer than a creator, and they’ve been missing that guard off the bench to run some offense through. With de Larrea in the mix, they’ll have good size at the guard position and someone who can orchestrate more.” See the full mock draft.

Sports Illustrated | Kevin Sweeney | Updated June 23

Isaiah Evans, F, Duke

“Evans is a polarizing prospect after two years at Duke. At his best, he’s one of the most dynamic shooters in this draft, capable of getting his shot off with next-to-no separation and regularly going on streaks of multiple threes in short spurts. His overall impact on the game can be muted at times though, especially when threes aren’t falling. He’s a below-average athlete and mediocre defensively.” See the full mock draft.

Other picks:

• Second round, 49th overall pick: Aaron Nkrumah, G, Tennessee State

The Sporting News | Stephen Noh | Updated June 23

Isaiah Evans, F, Duke

“Denver has built a great offense without relying much on 3-pointers. What if they could take an even bigger step on that end of the floor?

“Evans could provide that extra oomph. He’s a good shooter who should be able to drill wide open looks while playing off Nikola Jokic. He has the size to defend capably. And he’s a decent athlete who can attack closeouts well.” See the full mock draft.

CBS Sports | Adam Finkelstein | Updated June 22

Ebuka Okorie, G, Stanford

“The Pistons, Grizzlies, and Wolves have done the most work on Okorie, but Denver has a real need for a paint touch point guard, especially as Nikola Jokic begins to age and they are forced to explore other ways of creating offense. Ejiofor has reportedly been to Denver as well. Veesaar would fit their system; Reed would be another potential backup five if he were available, and Isaiah Evans and Meleek Thomas could provide floor spacing.” See the full mock draft.

Yahoo Sports | Kevin O’Connor | Updated June 22

Ebuka Okorie, G, Stanford

“The Nuggets need some variety to their half-court offense aside from having Nikola Jokić initiate everything. Well, here’s a guy who could help. Okorie is the best driving guard in the class, a 6-1 jitterbug who manipulates defenders with a tight handle, sudden changes of speed, and an advanced feel for the game. He’s not an above-the-rim athlete, though, and not long ago he was a kid from New Hampshire who ranked outside the top 100 and committed to Harvard. Then Stanford found him, he flipped his commitment, and he proceeded to lead the ACC in scoring with eight 30-point games and a habit for hitting clutch shots. NBA teams will have to decide whether what carved up the ACC will survive against bigger, longer defenders.” See the full mock draft.

Other picks: 

• Second round, 49th overall pick: Tobe Awaka, F, Arizona

CBS Sports | Gary Parrish | Updated June 23

Koa Peat, F, Arizona

“Peat impacts winning in a variety of ways and was among the reasons Arizona won the Big 12’s regular-season championship before advancing to the Final Four. Good size. Good body. Intriguing prospect. The issue is that he’s a 6-7 wing who doesn’t really shoot, evidence being that Peat only took 20 3-pointers in 36 games with the Wildcats. That’s not ideal for the modern-NBA and why Peat’s draft-range seems vast.” See the full mock draft.

SB Nation | Ricky O’Donnell | Updated June 23

Koa Peat, F, Arizona

No writeup available. See the full mock draft.

ESPN | Jeremy Woo | Updated June 23

Labaron Philon Jr., G, Alabama

“This would be quite a fall for Philon, who has interest in the late lottery from the Bucks if they opt for a guard at No. 13. But it seems likely that one of the point guards falls toward the back of the first round with the way the board has shaped up — particularly in this scenario, where the Pistons don’t take one.

“Philon’s range has seemed particularly wide of late, and teams have speculated that he could slip, with his recent workout for the Timberwolves (who have since traded out of the first round) raising some eyebrows.” See the full mock draft.

Other picks: 

• Second round, 49th overall pick: Jaden Bradley, G, Arizona

Bleacher Report | Jonathan Wasserman | Updated June 22

Tarris Reed Jr., C, UConn

“Tarris Reed Jr. has been receiving strong reviews from workouts after putting together a rare statistical season, posting a 9.0 block percentage, 13.0 offensive rebounding percentage and 15.0 assist percentage.

“His combination of strength, paint touch, passing and rim protection should put him in first-round conversations for teams that want bigs.” See the full mock draft.

Other picks:

• Second round, 49th overall pick: Dillon Mitchell, F, St. John’s

USA Today | Bryan Kalbrosky | Updated June 23

Meleek Thomas, G, Arkansas

A few weeks ago, we asked our readers for ideas and questions for future Planet Money newsletters and podcasts. We got a bunch of great submissions, including an intriguing one from Karl Baumgartner.

Baumgartner is a 29-year-old internal medicine resident in Denver, where home prices and rents have been falling. Depending on which data you look at, the Denver metro area is experiencing one of the steepest — if not the steepest — housing price declines in the nation. Home prices have fallen more than 2% year over year, according to the S&P Cotality Case-Shiller Home Price Index, and even more if you adjust for inflation. Rents have fallen even more dramatically.

“As a renter myself, I am ecstatic about the falling prices,” Baumgartner writes. In fact, he just moved “to a bigger apartment with nicer amenities that I previously couldn’t afford, but now can because rent has fallen.” One of his friends, meanwhile, recently renegotiated her lease for about $500 less per month by showing her landlord that comparable apartments in her area were now going for much less.

“With almost all of my friends being in a similar position at the beginning of our careers with plenty of debt, we are all very excited about the decrease,” Baumgartner says.

So, yeah, falling rents are obviously a win for Denver renters. But Baumgartner is wondering about the broader economic picture.

“We know that negative inflation is bad for the economy in general, and we try to shoot for 2% annual inflation in general. What about negative inflation in the housing market specifically? Are there any downsides to falling prices, or is this just a sign of the market working as it should, with supply finally catching up to demand?”

It’s a great question because economics doesn’t seem to provide a simple answer on whether falling housing prices are good or bad for the economy.