Denver Home Resales Rebound In October

Metro Denver home resales increased in October from September, but were down from October of last year, according to a Metrolist Inc. housing report released Friday. Home sales, particularly those of lower-priced homes that are proving attractive to first-time homebuyers, have been boosted in recent months by buyers wanting to take advantage of the federal government’s $8,000 first-time homebuyer tax credit before it expired. Total October resales, which are sales of homes that have been sold at least once before, increased 2.9 percent to 3,958 from 3,846 the month before. Those sales were down 7.6 percent year over year, from 4,282 resales in October 2008. Single-family home sales rose 1.7 percent to 3,052 in October from the previous month, but were down 9.86 percent from October 2008. [Read this article]

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