Just as a postscript to the last post – the figures above are for single family homes. The condo market’s rebound looks even more dramatic. Inventory is down nearly 26%, days on market is down 3%, and months’ supply is down over 33%. And the prices have “only” dropped 11% average price, 5.5% median price. (I know – it’s a lot of money when it’s your money!) Sales are up 11%, and units under contract is up ... Read More

Everywhere I turn, I hear that the Denver market has turned and is poised for a rebound. (See the SmartMoney entry below.) Great news. But I wanted to see exactly where all of this optimism was coming from. So I started digging into the numbers. The numbers look very, very good. From September 2007 to September 2008, inventory (the number of homes on the market), dropped nearly 20%. The number of houses sold increased 15%. The average days a home is on ... Read More

Haven’t I been telling you that the Denver market was ready to turn around? The Wall Street Journal’s Smart Money magazine has confirmed it. In their November issue, they published their list of cities most likely to rebound. And guess which city was in the top seven? You guessed it. Our very own Denver. According to the article: Denver’s overall outlook is sunnier than for most western cities because neither inventory nor prices spiraled out of control during the boom. Dinged ... Read More

Today, President Bush signed the “Housing Rescue Bill.” So it seemed like as good a time as any to learn about it. There’s a lot to it, and a lot of fine print. But a couple of things stood out to me, as someone who represents buyers and sellers here in the real world: Foreclosure “rescue”: Homeowners facing foreclosure can refinance into low-cost fixed rate loans insured by FHA. But “can” is a tricky word. There are a lot ... Read More