Denver experiences improvements in the housing market
In the Denver Metro area the percentage of listed residential homes and condominiums that sold also improved, increasing for the fourth consecutive month. Pending home sales in Denver look positive as well. According to the Denver
Metrolist, the number of pending home sales in the Metro Denver area rose 7.4 percent from March 2009 to April 2009. Pending sales improved nationally as well, improving 6.7 percent from March 2009 to April 2009 and 3.2 percent
from April 2008 to April 2009.
Average sold price improves for the Metro Denver area
The average sold price of residential homes and condominiums for the Metro Denver area fell 5.3 percent from
December 2008 to January 2009 when the average sold price was $213,330. Since then, it has increased every
month, with an average sold price in April 2009 of $233,482. Since January 2005, the largest monthly gain was in March 2009 when prices jumped 6.6 percent to $232,395. The largest drop came in January 2007 when prices fell 8.7 percent to $266,066.
New Home Builders
For the second consecutive month, national single-family starts rose 2.8 percent to 368,000 units during April
2009. Single-family permits, which is an indication of future activity, also increased, rising 3.6 percent to
373,000 units. Perhaps we are finally experiencing some of the benefits of the first-time home buyer tax credit.
David Crowe, the National Association of Home Builders Chief Economist agrees that it is one of the factors.
He said, “Very attractive housing affordability factors – particularly the federal $8,000 first-time home buyer
tax credit and other tax credits being offered by states for purchases of newly constructed homes – are helping
drive potential buyers back into the market” (www.nahb.org).
Jeffery McClintock, is a real estate broker in Denver and prides himself on providing clients with professional guidance in all phases of residential new construction, including market research, product development, consulting, marketing and advertising. His personal mission is to bring to you a level of knowledge, experience, commitment, high standards and results to answer your real estate needs. He believes, the most effective way to provide superior service is to build a strong working relationship with you. His system includes regular consultations and feedback, which is the best tool for identifying and clarifying your real estate objectives and help define strategic solutions.
Posted by: Jeffery McClintock
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