Some housing bubble reports on Denver. "The number of unsold homes on the Denver-area market hit a record 29,045 in April, according to reports released Thursday. Rising foreclosures were the driving force for the skyrocketing inventory, which is 19.2 percent higher than a year ago, experts said."

"Buyer representatives are telling (realtor) Ed Jalowsky that about half the homes priced under $250,000 are either in foreclosure, are owned outright by a lender or the U.S. Department of Housing and Urban Development, or are selling for less than the amount owed on the mortgage."

"Jalowsky blames rising payments on adjustable-rate mortgages, which are squeezing home owners."

"'The logjam of homes is increasing each month,' said (realtor) Steve McGuire in Highlands Ranch. 'It is similar to back in the 1980s when we had a high number of foreclosures. The market was impacted greatly.' In Denver said he urges potential sellers to be realistic about the price they can get or expect to spend a long time on the market."

"'Foreclosures definitely are having an impact,' said McGuire."

"Competition from foreclosures will drive down prices in the lower- end market, ultimately causing more homes to end up in foreclosure, Jalowsky said. 'It is a real shame,' said. 'It's a battlefield out there for homes under $200,000. I just hope the blood flow will slow.'"

"Despite the glut of unsold homes, the median price was $250,000, up from $247,500 in March and $241,687 last year. (broker) Doug Pierce noted two homes in Cherry Hills Village recently came on the market in the high $900,000s, and within a week they were both under contract for full-price cash offers, with others standing in line to buy them."

"'Flying in the face of that activity, I have a listing in south Aurora,' Pierce said. 'The house is in good shape and has been updated. It was on the market in the $180,000s last summer and it didn't sell. We now have it at $164,900. We have not even had a showing in 10 days.'"

"Prices are up because of the mix of homes being sold and because the Metrolist data overstates the sale prices to an unknown extent. That's because it doesn't adjust the sale prices for seller incentives, such as down payment assistance, according to real estate agents."

"'This is the standard time of the year when people start putting their homes on the market, so they can move into a new home by the time the kids go back to school,' Independent broker Gary Bauer said. Bauer said he expects the number of unsold homes to continue to rise for the rest of the summer."