Denver again led metro area in home resales in 2009

Denver again led metro area in home resales in 2009, but sales declined - Denver County continued to have more sales than other metro-area counties of existing single-family homes in 2009. The county had 7,482 closed sales of such homes last year, down from 9,399 the prior year. The largest number of homes sold in Denver County — 2,581 — were in the $100,000-$200,000 price range, followed by 1,580 home sold in the $200,000-$300,000 “move-up” range. “First-time homebuyer closings, via tax-credit assistance, took over the market for the majority of the year,” said Metrolist analyst Gary Bauer in his report. “First-time homebuyer transactions are estimated to be 40-plus percent of all [home sale] closings.” See the full article for data for all metro counties.
http://www.bizjournals.com/denver/stories/2010/01/25/daily27.html?s=industry&i=resi_real_estate

Impact of tighter FHA mortgage rules on home loans debated

Tighter lending requirements for loans insured by the Federal Housing Administration may leave some borrowers unable to get mortgages, but economists are divided on the impact they could have on housing's recovery. The changes, aimed at strengthening the FHA's reserves in the face of rising foreclosures, shouldn't hurt too many borrowers, officials say. "We don't expect this to have a significant impact on the housing market," says FHA Commissioner David Stevens, adding that "the moves are designed to get the reserves back up."
http://www.usatoday.com/money/economy/housing/2010-01-20-fha-home-mortgage-loans_N.htm

Springtime house hunters out early thanks to tax credit

Springtime house hunters out early thanks to tax credit - The springtime spurt in home buying may hit before the snow melts this year as buyers scramble to meet an April 30 tax credit deadline. The spring buying season typically takes off in March and runs through May. "I expect the buying season will be moved up," says Jim Gillespie, CEO of Coldwell Banker. Sales "are going to take off in February and March and really take off in April. ... My concern is that the move-up buyer hasn't thought what they need to do. Their window is really short. They have to coordinate closing dates." The tax credit's impact on 2010 home sales is uncertain. Some economists expect the credit to pull sales that would have occurred later in the year into the first half.
http://www.usatoday.com/money/economy/housing/2010-01-19-spring-home-buyers_N.htm