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July Home Sales Surge More Than 7 Percent in Denver Metro Area23 Aug

With all the negative stories about the economy, government debt, foreclosures and housing prices, it’s always nice to read some good news about the housing market.  As any experienced and knowledgeable Buildings & Residences Broker will tell you, the market is moving right now.  Sales of properly priced homes are brisk, with some receiving multiple offers.  This article just reinforces that… on a nationwide scale.  Things are looking up, in the housing market, especially here in Denver.

July home sales surge more than 7 percent

By ALAN ZIBEL AP Real Estate Writer

WASHINGTON—The U.S. housing market is rebounding faster than expected. The question is, can it last? Home resales in July posted the largest monthly increase in at least 10 years as first-time buyers rushed to take advantage of a tax credit that expires Nov. 30. Sales jumped 7.2 percent and beat expectations, the National Association of Realtors said Friday.

“We’ve got tens of thousands of homes perfect for the first-time homebuyer and we’ve taken advantage of that,” said George Hackett, president of Coldwell Banker Real Estate in Pittsburgh.

Sales hit a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June. It was the fourth-straight monthly increase and the strongest month since August 2007. Sales had been expected to rise to an annual pace of 5 million, according to economists surveyed by Thomson Reuters.

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