Wednesday, July 10, 2013

Redfin: Denver area homes selling at faster pace this year

According to a recent report form Redfin, "Denver['s home sales market] sped up the most between May 2012 and May 2013, as the rate of homes going under contract in 14 days moved from 26.1 percent to 47.8 percent."

According to the report, the percentage of homes for sale in the Denver area in May 2013 that became pending sales within one week was up to 30%, and the rate increased to 48 percent after two weeks. 

While up significantly year over year for May, the speed of sales fell from April to May this year, reflecting a decline in demand driven by increases in the mortgage rate. 

See the full report here.