Sep
8
For the past couple of months, I’ve devoted a good chunk of my mornings reading the Denver Post and Rocky Mountain News. Occassionally I’ll blog about the articles. Most of the time, I’ll pass and blog about something else.
A friend of mine in Las Vegas noted that the Las Vegas real estate market was bad but nothing compared to the Denver roller coaster. He said that everytime he reads anything related to Denver real estate it’s about “foreclosures, high inventory, and lenders getting caught with their pants down.”
Based on two articles in the Denver Post and Rocky Mountain News, my friend in Las Vegas was right. The Denver real estate market was going through a roller coaster ride during the months of July and August.
The Denver Post view of this roller coaster:
Metro home sales up; prices dip
The median price of condos and town homes sold during the month fell to $160,000, down from $163,000 in July and $164,000 in August 2005.
The median price of single-family homes sold during the month fell to $252,900, down from $259,500 in July and $255,000 a year earlier.
Compared with August 2005, single-family home prices were down 0.8 percent, while condo prices were down 2.4 percent.
The Rocky Mountain News view of this roller coaster:
August home sales drop 11% from year ago
Is your rate too high? Get a rate quote on a Denver Mortgage Loan now!August home sales activity in the Denver area dropped by almost 11 percent from a year ago but showed a 2.4 percent increase from July, according to studies released Thursday.
There were 5,673 previously owned homes placed under contract in August, down from the 6,351 a year earlier, when mortgage rates were lower. But the August number was up from 5,538 in July.
Comments
Leave a Reply
Search
Custom Search