Wednesday, August 1, 2007


On the heels of NAR's 2007 Mid-Year Report projecting Denver to be one of the country's TOP FIVE housing markets in 2008 comes an article in the Wall Street Journal showing that, of the top 28 housing markets in the country, only TWO have seen a decline in inventory over the past 12 months. Those cities are (drumroll please!) Boston and DENVER...

Yes, Denver. Home of the Mile High Foreclosure Rate.

(Click HERE to read the Wall Street Journal Article)

It is anecdotal, which means it comes with an asterisk, but it's really hard to find an agent in the Denver area these days who isn't actively working with at least one Californian.

An agent in my office who specializes in REOs has pointed out that many REO properties are coming off the market in days (not weeks) with multiple offers. We know that with rising rents local investors have been into this market for a while, now it seems out-of-staters are moving in as well.

Lawrence Yun, chief economist for NAR, will be in Denver on August 22 to meet with local agents to talk about why the Denver housing market will be heating up well before the Democrats come to town next August... Mr. Yun, the red carpet awaits you!