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Article: Home, sweat home: a price drop Denver-area experts have beads on brows over high-end sales.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- March 8, 2006
- Author:
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Byline: John Rebchook, Rocky Mountain News
Home-sale prices in the Denver area took a larger than expected drop in February, prompting some experts to wonder if the upper-end housing market is starting to cool.
"It has been the higher-end market that has been driving up the average and median prices of all homes for the past 18 to 24 months, so if that starts to cool, we might start seeing an adjustment across the board," said Steve McGuire of RE/MAX Professionals.
On Tuesday, McGuire and independent broker Gary Bauer released reports on February sales based on Metrolist data, which tracks homes sold by Realtors.
McGuire said the ...