BusinessWeek States Denver Is the Most Improved Housing Market

Real Estate News June 10, 2010, 5:40PM EST
Denver Is the Most Improved U.S. Housing Market

The housing market in Denver and 20 other markets are showing signs of life, but still a long way from precrash highs
By Venessa Wong

Across the U.S., signs of life are budding in the housing market. This statement will have many people scratching their heads. Yes, more foreclosed homes will enter the market. Yes, job creation has been disappointing, and unemployment hovers at high rates. And yes, more mortgages are going to become delinquent. So what is the good news?

With help from the government's first-time home buyers tax credit, which expired in April, home prices improved slightly. Some metro areas appear to have entered the early phases of the long recovery process. According to CoreLogic, a data company in Santa Ana, Calif., national home prices increased 1.73 percent from March 2009 to March 2010. The next few years will be rocky, but gains on Wall Street during the first quarter and hiring improvements in some areas since January have improved confidence, with a positive effect on housing. Things are not rosy, but several markets are showing modest signs of improvement.