Denver Home Sales Down Nearly 17%
The Denver Metro area is at a normal level, finishing 2009 with a 5.7 month-supply. In 2009, its inventory fell 8.9 percent from November to December, and dropped 17.0 percent over the last year. Sales of previously occupied homes took the largest monthly drop in more than 40 years in December, plunging far deeper than expected after lawmakers gave buyers extended time to use a tax credit.
Home prices: Denver leads the nation in home price percentage increases,
according to the Standard & Poor’s/Case-Shiller Home-Price Index. Denver’s
S&P/Case-Shiller Home Price Index yearly percentage change improved for
the ninth consecutive month, falling only 0.1 percent between November 2008
and November 2009. As reported by Standard & Poor’s, “Denver and Dallas
are nearing positive territory with their annual figures at -0.1% and -0.6%,
respectively” . Home prices have benefited from the increased activity
in November when buyers rushed to purchase a home before the expiration of
the first time buyer credit. It’s incredible that prices were preserved
during that buying frenzy. With the extension of the first time buyer credit
perhaps we’ll see even more improvement.
The Denver Metro area is at a normal level, finishing 2009 with a 5.7 month-supply. In 2009, its inventory fell 8.9 percent from November to December, and dropped 16.0
percent over the last year.
Posted by: Jeffery McClintock
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