Some good news for Denver homes for sale today from the Denver Business Journal. While year over year home prices have declined, we're starting to see a slow up trend in month over month statistics.
This news corresponds to what we've been seeing for a few months now. While the data always lags (these statistics are for April) over the last several months we've been seeing much more activity and many competing bids - especially for Denver HUD homes and Denver foreclosures.
Also, keep in mind these stats cover the entire Denver Metro area. Many citys, neighborhood and subdivisions lie on both extremes of the scale. For example, run down Aurora HUD homes can sit on the market for months while Highlands Ranch foreclosures tend to remain on the market longer than a week.
If you'd like to talk about these stats or have any otehr questions on Denevr area homes, give us a call at 303-726-1874.
From The Denver Business Journal: Denver home prices down in April from 2010, but up from March
Home prices in Denver recorded a year-over-year decline in April for the 10th consecutive month, but they rose from the previous month for the first time since June 2010, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.
The average home price fell by 4.1 percent in Denver in the 12 months ending April 2011, while the 20-city composite index declined by 4 percent during the same period.
Only Washington, D.C., posted a year-over-year price gain, with a 4 percent increase. The greatest decline -- 11.1 percent -- was in Minneapolis.
But Denver home prices rose 1.5 percent in April from the previous month, more than twice the 20-city growth rate of 0.7 percent. It was Denver's first month-over-month price gain in 10 months.
Read the entire article.