I like Bob Casagrand’s monthly analysis, too. For a realtor, he seems to be pretty candid about what’s going on. A few months back, he wrote about the dearth of buyers for the $400k and under properties. He predicted this would have a ripple effect on the properties in the next higher tiers as $400K and unders would not be buying up, leaving $450-$500K buyers unable to sell their properties and move up, making it hard for sellers of $600K properties to unload, etc.
The higher end properties have been skewing our median prices in the Denver area for a year or so now. But as the Rocky Mountain News reported today, 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. Maybe that’s about to happen out there, too?
