Monday, June 10, 2013

Speaking on home sales inventory

From the June 5 Denver Post:

Ryan McMaken, an economist for the Colorado Division of Housing, said that after a few quarters of 10 percent growth in home prices year-over-year, people who were on the verge of being underwater believe they see prices that justify selling their homes.

"If more homes are coming on line, that would be an improvement from the buyer's perspective because recently it has been so difficult to find a property you want," he said.

But McMaken said much of the homebuying is being fueled by highly paid people moving to the metro area from other states who bring wealth with them. In metro Denver, wages are not keeping up with home prices.

NB: ..."a property you want..." should read "...a property on which you can successfully bid..."