Homes In Durango | Durango Real Estate

HOME PRICES: According to the Colorado Association of Realtors Colorado home prices have come down .7 percent in the third quarter from a year ago, however they are still higher than 2004. Home sales have dropped two straight years when comparing the single-family unity sold in the 3rd quarters of 2004 (6.5%) and 2005 (17.2%). However Lawrence Yun, senior forecast economist for the National Association of Realtors, says there are brighter day ahead saying elevated inventories will be worked off over the next two quarters, wages are rising at better than 4 percent and jobs continue to be created and with home prices falling, the demand will inevitably pick up. Yun predicts the low point will be the fourth quarter of this year. "Sales will then steadily climb and with it will come strengthening home prices. In summary, the housing slump is nearly over."

Durango has fared much better than the rest of the state. The number of 3rd quarter home sales is down 20.9% compared to 2005 but our median price has increased a whopping 32.0%.

Durango real estate - please call (800) 834-8445 if we can help or visit http://www.HomesInDurango.com or http://www.DurangoRealEstate.biz.