October 6, 2013
In the Denver MSA, single-family home sales fell 16% from August to September to 4,730 transactions. Despite the month-over-month drop, sales increased 20% year-over-year. Average sales prices also increased 8% year-over-year to $304,958 in September.
On average, for-sale properties spent 39 days on the market, a substantial decrease from last year’s average of 64 days. Kirby Slunaker, president of Metrolist, summarized the data: “Prices are stabilizing, competition for new listings remains, and inventory increases seem to be steadying the local market overall. All of our data points to a healthy market, which leads us to believe we are experiencing a true housing market recovery.”
Read more at Denver Business Journal.
September 6, 2013
Overall confidence in the apartment market, as measured by the National Association of Home Builders (NAHB), rose to an all-time high in the second quarter. The NAHB index came in at 61, its highest level since the agency began tracking confidence among builders and developers in 2003. A rating of 50 is considered neutral. NAHB Chief Economist David Crowe explains: ”Much of the consumer demand that we are now seeing is coming from a large generation of young people who are able to find jobs and establish their own households as the economy continues to improve.”
Read more at RealtorMag.org.
July 16, 2013
According to the monthly Housing Market Index released by the National Association of Home Builders, confidence in the housing market rose in July to 57 out of 100, representing its highest level since January 2006 and the third straight monthly increase. The index is based on current and expected sales and the number of houses being built.
While the July index shows improvement in builder confidence across every region of the U.S., two potential problems for the housing market remain: a scale-back to the home mortgage interest deduction and legislation to phase out Fannie Mae and Freddie Mac.
Read the full article at The Business Journals