The National Association of Realtors (NAR) says U.S. home resales fell to 3.83 million in July -- the lowest monthly tally since 1995 from 5.37 million in July 2009.
The inventory of homes available for sale, meanwhile, reached highs not seen in more than 10 years, rising to a 12.5-month supply from 8.9 months a year earlier. Economists generally see a seven-month inventory as consistent with stable home prices.
July resales were 24 percent below their recent peak in April, when the homebuyer subsidy was still in effect.
In the Denver area, home resales dropped by 26.6 percent in July from 2009 levels, according to Metrolist Inc. data released Aug. 10.
A total of 3,259 home and condo resales were counted in July 2010 in metro Denver, versus 4,440 in July 2009.
Prairie Gateway re-branded to Victory Crossing {Commerce City}
Commerce City "We need to be sure that we are not left behind in ED..."
Will we ever see Development @ the Prairie Gateway site in Commerce City, CO??? It has been years since the Commerce City Civic Center and Rapids stadium have been built and still no economic development. I guess patience is really a virtue.
