by Max on December 8, 2010
Denver-area home prices were down 1.6 percent in September from a year earlier, according to the latest S&P/Case-Shiller Home Prices Index, released last week. This marks the third month in a row that the metro area saw a year-over-year price decline. The area’s prices have also declined steadily from month to month, with a 0.4 percent drop between June and July.
This recent trend comes following a long period of rising home prices in the Denver area. The metro area saw year-over-year price increases of 1.8 percent in June, 3.6 percent in May, and 4.4 percent in April.
The Denver area isn’t the only metro area to see its housing prices decline. 14 other U.S. cities (out of the 20 tracked by S&P/Case-Shiller) also showed a year-over-year price drop in September, and 17 other cities also saw a month-to-month decline.
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by admin on September 1, 2010
Housing Market Recap for Highlands Ranch ~ End of Aug. 2010
Since the tax credits expired on April 30 we have been waiting for a dip in home sales. Wait is over, as the numbers are in. You probably already heard, the National Association of Realtors ® reporting that existing-home sales fell to a seasonally adjusted annual rate of 3.83-million units in July – the lowest annual rate in 15 years. The decline was as wide as it was ugly: sales tumbled 35.0 percent in the Midwest , 29.5 percent in the Northeast, 25.0 percent in the West and 22.6 percent in the South. The news on inventories was, perhaps, even more disturbing, rising 2.5 percent to 3.98-million units, a level unseen in nearly 30 years. At the current sales pace, it would take over a year to clear inventory. We, as much as anyone, are keen to accentuate the positive when it’s reasonable to do so. There were a few rays of light in the existing-home sales data. The national median sales price in July is up 0.7 percent, to $182,600, compared to the July 2009 median sales price. That said, our enthusiasm is tempered because a sustained price trend is unlikely. The median price increase is mostly due to a change in product mix, with fewer starter homes sold compared to intermediate and higher-priced homes.
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Article on Housing Market and Mortgage Rates in Highlands Ranch CO by Shawn Janusheske, Catalyst Lending
