Fewer homebuyers calling off contracts - Cancellation rates for buyer contracts on newly built homes were down by half in late 2009, and the rate of home shoppers who buy was up, indicating an improving Denver-area housing market. Weekly cancellations in November and December averaged roughly 22%, compared to 40% to 45% for the same months of 2008, according to Metrostudy Inc. “The conversion rate of people who walk in and sign a contract has gone up,” said Roger Reinhardt, executive vice president of the Home Builders Association of Metro Denver (HBA). “That’s a good sign.” Metro Denver’s weekly home-sale conversion rate increased to nearly 6% in December from roughly 5% for the same month of 2008 and 4% one year earlier, according to Metrostudy.
http://www.bizjournals.com/denver/stories/2009/12/21/story11.html?b=1261371600^2611191&s=industry&i=resi_real_estate
http://www.bizjournals.com/denver/stories/2009/12/21/story11.html?b=1261371600^2611191&s=industry&i=resi_real_estate
