Real Estate News
- Denver Tops Rebounding Housing Markets: Barbara Corcoran highlights Denver as the number one recovering housing market on NBC's Today Show saying, "Everything about Denver is pointing Up, Up, Up!"
- Jobs May Recover First in Colorado: If you want to be inthe right place when the recovery starts, that place may be in Colorado, Idaho, Oregon, Texas or Washington. The recession didn't start at the same time in every state, and it won't end at the same time either. A new forcast from Moody's Economy.com predicts that jobs growth will return first in those five states, starting in the last quarter of this year.
- Colorado Business Conditions Improve, Gross Index Shows: A monthly indicator of expected business activity in Colorado improved in May to its highest level in several months, Creighton University economist Ernie Goss said Monday in his monthly regional Business Conditions Index seurvey.
- Boulder Named "#1 Town to Live Well" by Forbes: Data came from Zoomprospector.com, a San Francisco- based consulting firm specializing in corporate relocation. It elvaluated aras of the country with less than 100,000 people and named Boulder as number one town.
- Pending Home Sales Increase Nearly 7 percent: The Pending Home Sales Index, a forward- looking indicator on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March and is 3.2 percent above April 2008 when it was 87.5. Lawrenec Yun, NAR chief economist, saysbuyers are responding to very favorable market conditions. "Housing affordibility conditions have been at historic highs, but now the $8,000 first time buyer tax credit is beginning to impact the market, " he says.
Total Metrolist October 2009 Update
| Category | Oct 08 | Oct 09 | % Change |
| #Of Closed Sales - Month | 3,386 | 3,052 | -9.9% |
| #Of Closed Sales - YTD | 33,048 | 28,035 | -15.2% |
| Avg. Days On Market | 93 | 92 | -1.1% |
| # Of Active Listings | 17,842 | 14,376 | -19.4% |
| # Of NEW Listings | 7,212 | 6,408 | -11.1% |
| Absorption Rate (in months) | 5.5 | 4.9 | -9.8% |
| Average Price (Sold) | 250,172 | 261,771 | 4.6% |
Overall residential active listing activity was down 19.4% in October. The number of new listings is also down 11.1%. What the media is not reporting is that this market has become seller's market and the list to sales price ratio has narrowed. This is further supported in the increase of 4.6% average sold price.