Pending Home Sales Up in Denver and Everywhere

Indicators are pointing to higher housing activity in the second half of this year. According to the National Association of Realtors (NAR), pending home sales rose strongly in May with all regions experiencing gains from a year ago. This is the first time since April 2010 that contract activity was above year-ago levels, and the monthly gain was the strongest increase since last November. NAR economists believe this signals stabilization in home values.

The index for the western region of the U.S., which includes Colorado, surged 12.9 percent from April and is 13.5 percent above May 2010. The Pending Home Sales Index is a leading indicator for the near-term future of the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Couple this with the information from my last blog which showed that Denver is a great place for business and careers, and you'll see that there is good reason for optimism about the strength of the Denver real estate market. If you're a Denver homeowner who has been thinking about selling but was waiting for things to start looking up, this may mean that the right time has finally arrived. Talk to us about the value of your home in the Denver market and prospects for a sale in the current economic environment.

If you're thinking about buying a Denver home, now is the time to start looking while prices are low and many great properties are still available. Talk to the Bandy Team today about your lifestyle preferences and we'll help find a Denver home to suit your individual needs. We'll show you some terrific homes in Parker, beautiful real estate in Castle Rock, including the two communities of houses in Castle Pines; and other properties in the Denver Metro Area, including a wide variety of homes in Highlands Ranch and family-friendly houses in Centennial.

Marianne Bandy

Consider Denver Relocation.