The Rocky Mountain News reports on Denvers 'glut' of homes. "Sellers were trying to unload 24,387 previously owned homes on the Denver-area market last month, a 16.6 percent increase from the number of unsold homes on the market in January 2005. Although still below the record 28,043 homes clogging the market in June 2004, it is the largest number of houses ever on the market in January, Steve McGuire said."

"'The inventory concerns me,' McGuire said. 'That's about 3,400 homes above where we were last January. That is a pretty high number to be starting with.' McGuire said his fear is that if the supply of unsold homes continues to climb and interest rates rise, knocking potential buyers out of the market, it could cause home prices to dip."

"Mark Eibner expects the Denver area market to get a boost from people selling their homes in previously hot markets that are starting to cool, such as California, Phoenix, Las Vegas and Washington, D.C. He recently sold a home in Parker to a couple from Orange County, Calif., for $265,000. They had paid $450,000 for their home in California and sold it for $650,000.'"

"'They made $200,000 in three years,' Eibner said. 'I really think we're poised to see people dump their homes in other markets to come here.'"

"Ed Jalowsky said that homes priced below $300,000 are facing a lot of pressure from homes in some stage of foreclosure. He recently sold a foreclosed home on behalf of a lender in the Curtis Park area for $160,000 that sold two years ago for $210,000. Another broker unsuccessfully tried to sell it for $180,000."