Well, here we are again, the beginning of a new year. Fresh start. So, let’s talk about the new inventory numbers! Yea! Boring, I know, but important.
Metrolist shows that 8,854 homes are still available in Metro Denver. Down 13%. That is substantial. A double digit drop is great news. Usually, during this time of the year decreases can be attributed to sellers wanting not to market their homes for sale during the holidays. However, 2011 was different. Read this for more explanation.
One more indication that this market is healing; home closings are up 3% last month. Prices have leveled off and are virtually unchanged from last year. But the big change is that there are 32% more homes currently under contract compared to this time last year! Buyers are out there. They are taking advantage of the low prices and the incredibly low interest rates. And, more importantly, they are putting homes under contract, not just sitting on the fence anymore. Looks to me that 2012 is off to a fine start.
A slow recovery, albeit, but a recovery nonetheless. Stay tuned.