Denver Colorado Real Estate
Home price statistics for Denver are beginning to sound like a broken record. Denver held its place as one of the top metro areas in the nation to enjoy
improved home prices from July 2009 to August 2009. During August, home prices increased 1.0 percent, according to the S&P/Case-Shiller Home Price
Index. For the past six months, Denver’s month-to-month change in home price values has increased. Nationally, home prices are looking more promising as well. According to David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s, “Broadly speaking, the rate of annual decline in home price values continues to improve. The two Composites and 19 of the 20 metro areas showed an improvement in the annual rates of return, as seen through a moderation in, their annual declines” (www.standardandpoors.com). Denver’s annual declines have decreased steadily over the past six months,falling only 1.9 percent since August 2008. This continues our hope that Denver’s housing market is recovering as it nears a positive change in its annual returns.
Nationally
3.6% – The national decline in new home sales during September 2009, following five consecutive months of sales increases.
7.5% - The national monthly supply of new homes available for sale in September 2009. September was the 29th consecutive month in which the inventory declined, reaching its lowest since November 1982.
10.6% – The decline in new home sales in the West during September 2009. The Midwest gained 34 percent in new home sales during September.
9.4% – The increase in existing-home sales, including single-family, townhouse, condominiums and co-ops in the nation from August 2009 to September 2009. This 5.57 million-units sale pace is 9.2 percent above the 5.10 million-unit pace in September 2008
15.0% – The decrease in the nation’s total housing inventory from September 2008 to September 2009. During September 2009, there were 3.63 million existing homes available for sale. This represents a 7.8-month supply at the current sales pace.
$174,00- The national median existing-home price for all housing types in September 2009, down 8.5 percent from September 2008.
Things to consider – highlights for repeat buyers:
For purchases in 2009, the tax credit may be applied to your 2008 or 2009 taxes.
For purchases in 2010, the tax credit may be applied to your 2009 or 2010 taxes.
You must be under contract to purchase a home by April 30, 2010 and closed by June 30, 2010 to
qualify for the tax credit.
The credit only applies to single taxpayers with adjusted gross incomes at or below $125,000.
The credit only applies to married couples filing jointly with a combined adjusted gross income of
$225,000 or less.
Things to consider – highlights for repeat buyers:
$6,500 tax credit for repeat homebuyers does not have to be repaid.
The tax credit is for 10 percent of the home’s purchase price up to $6,500 (up to $3,250 for a married individual filing separately).
You qualify if you have resided in your principal residence for five consecutive years out of the last eight.
The home you use the tax credit to purchase must be your primary residency for at least the next 36 months.
For purchases in 2009, the tax credit may be applied to your 2008 or 2009 taxes.
For purchases in 2010, the tax credit may be applied to your 2009 or 2010 taxes.
The credit only applies to single taxpayers with adjusted gross incomes at or below $125,000.
The credit only applies to married couples filing jointly with a combined adjusted gross income of $225,000 or less.
You must be under contract to purchase a home after November 6, 2009 and on or before April 30, 2010 and you must close on that purchase by June 30, 2010 to qualify for the tax credit.
Purchases of homes that are priced above $800,000 are not eligible for the tax credit.
Advanced MLS IDX Search Available for the Denver Home Market- click on the Iphone App Below and Enter 5358 to activate when prompted!
Posted by: Jeffery McClintock
Categories:
