Denver House Sales Slide
According to a report by DataQuick Information Systems, the number of new and previously owned homes sold in the Denver area decreased by 10.6% in the first quarter of 2007, compared with the first three months of 2006. Additionally, the median price of all homes dropped 1.3% to $235,000 from $238,000 in the first quarter of 2006.
Another report presented a slightly more optimistic view of the Denver-area market. The PMI Risk Index ranked the Denver area as No. 38 out of 50, with a 16.9% chance of experiencing a decline in the housing market in the next two years. The Denver-Aurora area was ranked in the second-lowest risk category, which “is characterized by low to moderate levels of price volatility and (price) acceleration, affordability and employment.”