- Available homes for sale in Denver was reported at 7,587 at the end of August, a 1.6 percent increase in inventory month-over-month.
- 6,416 new listings came on the market in August, while 5,383 homes were placed under contract and 5,088 homes closed.
- Sold listings decreased 15 percent and total sales volume dropped 15 percent to $1.86 billion from July.
- Pending sales outpaced the number of new listings added to inventory for the fifth month this year with a reported 10,603 mutually accepted transactions and 9,921 new listings.
- Total inventory dipped at the end of August with 20,749 total active listings in the MLS database, which is a slight drop from 21,069 in July and a 23.3 percent decline from a year ago.
- When considering supply, or months of inventory, August saw a slight uptick over July from 2.24 months to 2.38 months of inventory.
We’ll add more market news briefs throughout the day. Check back to read the latest.
Yesterday’s market news:
- The 30-year fixed-rate mortgage increased slightly to 3.89 percent from last week’s 3.84 percent, but is still lower than 4.1 percent a year ago.
- The 15-year fixed-rate mortgage was reported at 3.09 percent, up slightly from 3.06 percent last week but down from last year’s 3.24 percent.
- The five-year adjustable-rate averaged 2.93 percent this week, up from 2.9 percent last week but down slightly from 2.97 percent last year.
- The negative equity rate in the U.S. dropped below 15 percent in the second quarter of 2015.
- Nearly 20 percent of condo owners were underwater, most notably in cities such as Chicago, Orlando and Las Vegas.
- 7.4 million homeowners were underwater at the end of the second quarter, down significantly from the worst of the housing bubble when underwater homeowners hit 15 million.
- 43 percent of U.S. homes and condos, or an estimated market value of $6.6 trillion in property, are in counties with a high risk or very high risk for at least one type of natural disaster.
- California, Florida, New York, New Jersey and North Carolina have the most homes in high to very high risk counties for overall natural disasters.
- The 10-year home price growth is stronger in areas of low natural disaster risk, but home values are higher in counties with high risk.
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