Denver home prices appear to have stayed around the same for the month of July (2015), while home sales dropped nearly 10% since the previous month of June.
Granted, this is only for a one month period, but it still is not good news. The current home owners want to think that their home will finally show some additional value in hopes they could actually make a profit if they choose to sell at some point.
What makes this a story is that these statistics were released by the Association of Realtors:
http://www.dmarealtors.com/sites/default/files/content/dmar_markettrends_august.pdf
Since its release, researchers (myself included) and market analysts now have a lower value placed on the Denver market. Those that invest in properties regardless of location might scratch Denver off their list, at least for now.
The Denver Post, the most widely read publication in Colorado, has already published a story about this, which is, obviously, not positive.
http://www.denverpost.com/business/ci_28595933/metro-denver-home-market-cools-down-july
All the Association had to do was keep this quiet. Local home owners, and possibly some potential investors, would never have known there was a decline, even though it is minor.
Whether in Denver or not, home values need to be on the rise across the board. Reporting the negative doesn't help.
Archidose, 1999–2024
3 months ago
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