Rising home sales in Denver area may lead to price gains

For the first-time in five years, homes sales in the seven-county Denver area in October surpassed October sales in the prior years, according to an analysis released Monday by RE/MAX Professionals.

“This is a positive change, underscored by the fact that the totals were substantially better than October 2008’s, almost an 11 percent increase,” said Jack O’Connor, a senior partner in RE/MAX Professionals and author of the report. O’Connor added that three or four months of monthly increases over the previous year would portend price increases.

Read more from John Rebchook at his blog, InsideRealEstateNews.com. Rebchook wrote about residential and commercial real estate for 26 years at the Rocky Mountain News.