Housing heating up in hottest months

KUSA - The housing market may be heating up in the Denver metro area as we enter the hottest months of the year.

According to Metrolist, in May the number of properties sold was up 19 percent from the previous month.

If you're looking for a place to buy, you also have more choices. Active listings were up 15 percent in May.

Some might think more inventory would mean lower prices. Kirby Slunaker, President and CEO of Metrolist says prices are actually up in this competitive market.

"I think there's a lot of pent up demand," Slunaker said. "Currently we have just under seven weeks worth of inventory. So there's a fairly high absorption rate."

The mean average of a home sold in Denver right now is around $330,000. That's up over eight percent. Some say it's evidence of the continued economic recovery.

(KUSA-TV © 2014 Multimedia Holdings Corporation)


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