It's been a house-buying frenzy in the Denver area this month, with sales of previously owned homes jumping 80 percent from January 2004.The 3,492 homes placed under contract this month are the most ever for the first month of the year, obliterating the previous record of 2,304 sales in January 1999. Experts say several factors are driving the buying spree: a fear that mortgage rates will rise, a sense the worst is over for the economy, lenders more willing to finance mortagages, relief the presidential election is no longer a distraction and even the mostly nice weather this month. Reposts released Tuesday by Coldwell Banker Colorado and Steve McGuire RE/MAX Professionals show that the year-over-year increase is the largest since at least the mid 1980s.

Properties under contract this month 3,492 Last month 2,995 This month last year 1,936

Rocky Mountain News January 26, 2005