Data. It's what we need, but don't always listen to.
For the past 6 months, I have been feeling like a bit of steroetypical used car sales man, telling clients that the data I was seeing indicated a stronger. I was seeing movements in the reduction of days on market, reductions in home inventory, and the very subjective metric: multiple offers on foreclosed (bank owned homes). Now, the National Association of Realtors® has put together some data, that indicates Denver is one of the top five most probable for appreciation in 2008.
The data shown on my main blog
http://www.milehighmls.com/2007/11/denver-metro-cities-state-of-market_10.html would tend to indicate that, too. Many more markets in which I focus are now moving from Buyer's Markets to Neutral to Seller's Markets. This is great news for the beleaguered metro area.
You can see the study by going to
http://www.MileHighHomeHunter.com and clicking on Nat'l Assoc of Realtors - Denver Study in the top left of the navigation bar. Or you can click here:
http://www.milehighhomehunter.com/Denver_20_Housing_20_Market_20_Overview.html to be transported directly. The study is password protected, so choose the "Read Only" option when opening it.
Welcome to Denver, Home of "2008 Sure Looks Great!"
If you know of anyone looking to buy or sell a home in the Denver area, I am never too busy for your referrals.
Kind regards,
Michael Clarkson
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