Friday, January 4, 2008

2008 MARKET UPDATE - BELIEVE IT OR NOT, INVENTORY IS FALLING

With over 24,000 homes for sale in the Denver MLS to start the year, there is still plenty of inventory to choose from. But, according to the Wall Street Journal, Denver remains one of only two major markets in the country (Boston being the other) with fewer homes on the market today than one year ago. And in the condominium market, inventory is down over 8% compared to a year ago, indicating a significant firming at the bottom of the market, which had been hardest hit by foreclosures.