Summer is finally here, but is the Denver real estate market heating up with the weather? While the year-over-year numbers aren’t pretty, thankfully, we can say that the Denver housing market has been improving each month. There are many signs of hope emerging, one being that a prominent housing expert recently singled Denver out as the, “No. 1 city on the verge of recovery from the real estate slump.”

The bad news is that the number of home sales in Denver real estate market sales has decreased by over 20 percent from 2008, and the average sales price has decreased by 5 percent from last year. What is the good news? May’s numbers are a big improvement over April’s – the number of sold homes increased by 7 percent from April-to-May and the number of homes under contract increased 3 percent from April-to-May. Another bright spot is that is that there were 20,734 “active” listings in May, a 21 percent decline from last year. Foreclosures, a crucial obstacle to a recovery, have also dramatically decreased from recent years.

All of these statistics – improving monthly sales, a low inventory of homes for sale, and a decreasing number of foreclosures - point to a Denver real estate market rebound. We believe that the market bottomed during the winter, and is starting a gradual recovery. Don’t miss your opportunity to purchase a home in the strongest buyer’s market that we have seen in years.

We will cross our fingers that Denver will be the first to emerge from the real estate slump. In the meantime, for more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.

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There is help out there for Denver homebuyers - especially for those purchasing their first home, or who are considered to have a “low to moderate income.” Here is a rundown of a few programs...

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Let's face it. Things are tough out there right now, but let's look on the bright side. Denver is weathering the economic downturn well compared to the rest of the country. Why? It's simple. Denver is a great place to live.

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Last week, the well-respected Case-Shiller Report announced that Denver continues to be one of the least affected real estate markets in the country. In fact, Denver was the second best of the top 20 real estate markets. Still, prices declined an average of 1.1% in the month of November and 4.3% during the previous...

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