INVENTORY CONTINUES TO FALL THROUGHOUT DENVER METRO AREA
If you have tracked the monthly inventory reports I post on this blog, you probably have observed the following trend: the inventory of active homes is falling at a farily dramatic pace.
Check this out (combined SFRs and condos):
FEB - 25,037 homes on the market... a 1% increase from February of 2007
MAR - 25,516 homes on the market... a 3.5% decrease from March of 2007
APR - 26,171 homes on the market... a 6.0% decrease from April of 2007
MAY - 26,333 homes on the market... a 9.5% decrease from May of 2007
JUN - 26,014 homes on the market... a 14% decrease from June of 2007
If you just look at condos, inventory is down 23% from one year ago!
What's happening here? Nationally, the housing market is in a funk and values continue to erode. But in Colorado, where the foreclosure tsunami hit first, it certainly appears we have leveled off and are on the way back.
Tomorrow, we'll take a look at where the activity in our market is taking place.
If you have tracked the monthly inventory reports I post on this blog, you probably have observed the following trend: the inventory of active homes is falling at a farily dramatic pace.
Check this out (combined SFRs and condos):
FEB - 25,037 homes on the market... a 1% increase from February of 2007
MAR - 25,516 homes on the market... a 3.5% decrease from March of 2007
APR - 26,171 homes on the market... a 6.0% decrease from April of 2007
MAY - 26,333 homes on the market... a 9.5% decrease from May of 2007
JUN - 26,014 homes on the market... a 14% decrease from June of 2007
If you just look at condos, inventory is down 23% from one year ago!
What's happening here? Nationally, the housing market is in a funk and values continue to erode. But in Colorado, where the foreclosure tsunami hit first, it certainly appears we have leveled off and are on the way back.
Tomorrow, we'll take a look at where the activity in our market is taking place.
