Friday, January 8, 2010

A look at what happening in the Denver 2009 real estate market

The Denver home market last year was a little bit like being the valedictorian of your class - a remedial class, that is.

Most metrics for the housing market in 2009 when compared to 2008 – from the number of homes sold, prices and dollar volume – were underwhelming, shows a report released today.

Still, Denver is a shining star compared to much of the nation, although the housing bar is pretty low elsewhere.

Indeed, he said “if there is anything sunny about 2009, which was a very challenging year, not only in Denver but all across the country, it all took place in the last quarter. We know what drove the lower-end home activity – it was people trying to get under the wire and close homes in case the tax credits went away. But in November we also started to see some improvements in the $1 million market for the first time in 20 months. We will be watching the first quarter very carefully to see if this trend continues into 2010.”