Listing Inventory drops 18.733% over the past twelve months according to the Denver area Metro List Corporation! During September of this year, the Denver area active listing inventory averaged 25,543 units for residential and condominium homes on the market. This is the lowest September inventory since 2004.
Builders continue to be careful with how many homes they start and the amount of standing inventory they will allow to be built. Foreclosure inventory is declining and the number of new foreclosures hitting the Denver market is also declining. Fewer sellers are entering the market as compared to the number of buyers. Annually, Colorado is continuing to see more people moving into the state than out of the state. Interest rates are still holding very low around 6.0% for a 30 year fixed loan. All of these factors are indicators that the Denver market is and will continue to be heading the direction of recovery.
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1 comments:
good as long as the left inventory does not adversely affect long term values
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