Number of Sales

In 2009, 8,609 houses were sold according to the PPMLS. This was just under 2% of a decrease over 2008 activity which saw 8,745 closings. The market really remained flat year over year in terms of activity thanks largely in part to the 2009 First Time Homebuyer Credit which was initially set to expire in November. This, in addition to incredibly low 30 year fixed interest rates created urgency for first time homebuyers. 

This number doesn’t capture the complete number of houses that were eventually sold at auction due to foreclosure. According to the state of Colorado research, the number of filings increased roughly 18% in 2009 versus 2008; the actual number that were completed fell 8% year over year indicating stabilization in that segment of the market. This bodes well for home values in 2010 which will feel less of a sting from appraisals taking into consideration local foreclosure activity.

Number of sales is simply the number of closed single family homes that closed for that particular month. This number varies on a seasonal basis but if you are familiar with those seasonal fluctuations, you can get a strong sense of the markets overall health.