Trends are Stable but We Have a Long Way to Go
The housing market remains stable, yet at low levels with plenty of room for improvement, according to Lawrence Yun, chief economist for the National Association of Realtors. Yun commented on the current trends, “Existing-home sales have bounced around this year, staying relatively close to the current level in most months. The irony is affordability conditions have improved to historic highs and more creditworthy borrowers are trying to purchase homes, but the share of contract failures is double the level of September 2010. Even so, the volume of successful buyers is higher than a year ago and is remaining fairly stable – this speaks to an unfulfilled demand” (www.realtor.org).
Denver is out-performing the nation in a few categories -- check out the September housing stats for the Metro Denver area, according to the Denver Metrolist.
- Denver’s monthly supply was 4.7 at the end of September 2011, while the nation’s monthly supply was 8.5.
- The sales volume for residential and condominium sales in the Denver Metro area increased 12.8 percent from September 2010 to September 2011. Nationally, home sales improved 11.3 percent.
- The sales volume for single-family residential home sales in the Denver Metro area increased 12.5 percent from September 2010 to September 2011. Nationally, they rose 12.2 percent.
- The sales volume for condominium sales in the Denver Metro area increased 38.7 percent from September 2010 to September 2011. Nationally, condominium sales rose 5.6 percent.
Housing in Douglas County and Parker CO is slow and steady...not setting the world on Fire.
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