Denver Condos and Townhomes

All of the major indicators for Denver homes continue to point in a positive direction. The latest report is showing that home sales, including Denver Distressed properties (foreclosures, Denver short sales, etc), are up 1.2% from the same period 1 year ago.

This is great news, and the number get even better when you take out Denver distressed properties. When you remove Denver foreclosures and Denver short sales, the year over year increase raises to 1.6%.

From The Denver Business Journal:

Home prices in metro Denver continued a gradual climb upwards in February as compared to a year earlier, according to the latest home price index (HPI) report from CoreLogic CoreLogicLatest from The Business JournalsNational refinancing activity back on the riseHome prices show signs of stabilizingCoreLogic: Metro Charlotte home prices stay flatFollow this company Wednesday.

The Denver-Broomfield-Aurora area saw the HPI, including distressed sales, increase 1.2 percent from February 2011. Without the distressed numbers, the index increased 1.6 percent year over year.

We're seeing more and more positive news on the market for Denver homes every month. While there is no steep increase in price, the several months of positive news certainly continue to point in a slow, sustained recovery.

We'll continue to watch the market and especially keep our eye on the Denver foreclosures that are anticipated to be released in the coming weeks and months now that the nation wide lawsuit against the major lenders has been settled.

If you'd like to talk more about the Denver market, give our team a call at 303-726-1874.

Some more good news for Denver homes today. According to the latest S&P / Case-Shiller Home Price Index, for the first time in 19 months, the Denver metro area has posted a year-over-year increase in Home Prices.

Again, this news adds to the growing evidence that both the shrinking inventory, increased demand and low interest rates for Denver homes are having a very positive affect on home values.

From The Denver Business Journal:

For the first time in 19 months, metro Denver posted a year-over-year increase in home prices in January, according to the latest S&P/Case-Shiller Home Prices Index.

It was a small increase, up just 0.2 percent from January 2011, according to the closely-followed report from Standard & Poor’s    Standard & Poor Latest from The Business Journals Follow this company . Still, Denver was one of only three cities out the 20 tracked by the report to show a year-over-year price rise.

The average for the 20 cities was a decline of 3.8 percent. The only other cities with year-over-year gains were Detroit (up 1.7 percent) and Phoenix (up 1.3 percent).

Metro Denver’s January gain followed small year-over-year declines of 0.4 percent in December 2011 and 0.2 percent in November 2011.

Much of this has to do with the declining inventory of Denver foreclosures and Denver HUD homes.

If you would like to talk more about Denver homes or have questions about the market in your neighborhood, give our team a call at 303-726-1874.

Some good news for Denver Homes this morning from Case-Shiller via the Denver post. For the 4th time in the last 5 months, Denver homes prices showed an increase. This is in line with what we've been reporting her for months now. Denver's housing market is recovering, slowly, but it is trending upward.

Much of this has to do with the fact that Denver encountered housing issues before the rest of the country and is now coming out of it sooner. In addition, the prices of homes, and resulting Denver foreclosures, never dipped to the extent that it did in many other areas of the country.

From The Denver Business Journal:

But Denver home prices rose 0.4 percent in August from the previous month, better than the 20-city composite growth rate of 0.2 percent.

Denver home prices were flat month over month in July but rose in April, May and June from the previous months, with increases ranging from 1.4 to 1.6 percent. Before that came 10 straight months of price declines from the previous month.

Among the other 19 cities covered by the report, the only places to see a year-over-year home-price gain in August were Detroit (up 2.7 percent) and Washington (up 0.3 percent).

We're seeing a steady demand from buyers, and yesterday's news that Denver HUD homes will be included in the $100 down program should help this as well. If you'd like to talk about this or just have questions about Denver homes in general, give our team a call at 303-726-1874.

An interesting article in the Denver Post today regarding Denver homes and the real estate market.

For months, we've been explaining to clients looking in certain areas and / or price ranges in the Denver metro area, that despite what they read in the news, the market is very tight and the best deals are going under contract quickly. In the past 2 weeks, we have multiple bid situations on at least 4 properties. two of these were Denver Fannie Mae homes, but 2 were standard resale homes.

The article today in the Denver Post does a good job explaining some of the reasons why inventory is so tight:

If you'd like to talk more about inventory, foreclosure, Denver HUD homes or how the inventory (or lack of inventory) impacts you, give us a call at 303-726-1874.