Is Denver, CO at the bottom of the housing market?

Inventory of single family homes in metro Denver, CO was down 39.79% in December 2011 from December 2010. [promotional hotlink deleted by Zillow moderator]
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January 11 2012 - Denver
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Not according to this news broadcast....
http://www.youtube.com/watch?v=Y9frmEv-vPA&feature=share

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January 12 2012
 
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