John Rebchook is a former Rocky Mountain News reporter with more than 30 years of experience in writing and communications... Early this morning, independent real estate broker Gary Bauer told me that he thought the 18,945 unsold homes on the market represented the fewest number of unsold homes on the market in an October in recent history.
He is correct.
It marks the first time that the number of unsold homes in October has dipped below 19,000 since at least 2001. The October market peaked in 2009, when there were 29,722 homes on the market. In other words, at the peak, only three years ago, there were 36.26 percent more homes on the market than in this October.
Also, the 18.1 percent drop from this October from October 2008, also was by far the largest year-over-year percentage drop for an October since at least 2001.
Following is a chart that shows the unsold inventory for each October from 2001 to 2009.
.
Year Unsold Homes
2001 19,319
2002 23,769
2003 25,181
2004 26.030
2005 26,828
2006 29,722
2007 28,928
2008 23,120
2009 18,945
For related links on the October housing market in Denver:
Best October for under contracts
Contact John Rebchook at JRCHOOK@gmail.com or 303-945-6865
[...] Contributors « Denver-area home inventory lowest level since at least 2001 [...]
[...] the lowest on record for an October,” Bauer said. (For more on the supply levels, read this blog. [...]
I think you mean the October inventory peaked in 2006, according to your chart.
[...] October housing inventory [...]