Real Estate Market Faring Better Than Reported

Some experts say the housing market is on the decline, but would you believe we're actually in the midst of the third highest number of sales in our country's history?

Coldwell Bankers Managing Broker John Huff says nationwide the market is off about 7%. Here in the Grand Valley the booming energy industry and continued job growth are fueling the market. Huff says recent national attention has scared some people away from buying and selling. But what we're experiencing now is nothing like what he experienced in the late 70's and early 80's when interest rates and the unemployment rate were high.

As for the sales of existing homes dropping 4.1% last month, Huff says more often than not it's because existing homes are not up–to–date or need a lot of improvements.

Huff adds that the median selling price for an existing home in the county is $218,700.00, the median selling price of a home in Grand Junction $217,900.

KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
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