You will find positive signs for the Denver housing market if you look at the numbers from my July 12, 2011 post on Denver Real Estate Market Statistics for year over year June 2011. First, notice that the inventory of residential homes for sale at the end of June this year is down to 14,215 from 17,337 a year ago. That's an 18% drop and a good thing for Denver home sales and prices. And there is even better improvement in the condominium/townhome market. Active properties for sale at the end of June this year are down 28.8% to 3,811 from 5,352 at the end of June in 2010.
What else is significant about this? The months supply of residential homes, based on one month of sales, is 4.31 months which is down from 5.37 at the end of June in 2010! With a three to four month supply of homes for sale, the Realtor industry would typically predict single digit appreciation. Even better improvement, the condominium/townhome supply is 4.85 months compared to 6.53 months supply a year ago. Let's hope the Denver Post takes note of these signs of hope!