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Forbes magazine ranks Denver
seventh-best U.S. city in which to sell a home, based on a
study of 40 large metro areas. |
"Overbuilding and a high
foreclosure rate stymied
Denver's housing market, which last year saw a 6.3 percent drop in
prices," according to Forbes.com. "Still, area homes are selling, and the
vacancy rate, while still at a pro-buyer 3 percent, last year shrunk by 20
percent. The 49 percent drop in construction starts, the 12th largest cut
in the country, and 2 percent rise in new jobs, the ninth highest rate in
the country, are good news for sellers."
The report ranked each city by its 2007 unsold vacancy rate and how much
the market had changed from 2006. It also took into account construction
starts, job creation, and the degree to which new conforming loan limits
from Freddie Mac and Fannie Mae would improve each market's lending
conditions.
San Jose, Calif., topped the list as the best city for home sellers. It
was followed, in order, by: San Francisco; Salt Lake City; Austin, Texas;
Kansas City, Mo.; San Antonio, Texas;
Denver;
Providence, R.I.; Charlotte, N.C.; and Seattle.
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