Denver Luxury Home Resales on the Rise

The Denver Business Journal announced that resale of luxury homes in Denver, priced at $1 million and up, increased nearly 22 percent in November 2010 compared to the same time period in 2009, according to data supplied from Metrolist.

One reason for the increase in sales, according to real estate experts, may be the improvement of the jumbo mortgage loan market this year; such loans often are used to buy high-end homes.

Pending home sales jumped in October, showing a positive uptrend since bottoming in June, according to the National Association of REALTORS®. The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. The index measures housing contract activity.

Posted on December 15, 2010 10:31:12 by Blog Author