Denver home resales on rise

Denver home resales on rise, an article from The Denver Post, reports that the number of existing homes sold has increased for four months in a row. Last month, sales of existing homes increased 7% to 3,682, according to Metrolist data released Friday. "We might be able to officially say we saw the bottom," said real estate analyst Gary Bauer. "When did it happen? I'm not quite sure, but we've got a couple of months where we've had a nice rise." In May, the median price for a single-family home rose 4.8% to $220,000, compared to the previous month. Forty-two percent of home sold for less than $200,000, while 28% homes sold were in the $200,000-to-$300,000 range. Compared to the same month last year, inventory is down 21.3%. http://www.denverpost.com/businessheadlines/ci_12532585