A record number of Denver-area homes put under contract in April is translating into booming business for mortgage brokers, home inspectors and others in the real estate industry for the next two months.

The increase in contracts was largely driven by the April 30 deadline to put a house under contract in order to take advantage of an $8,000 federal tax credit for first-time buyers or a $6,500 tax credit for move-up buyers.

There were 6,616 homes under contract last month, a 27.6 percent increase over April 2009, according to data released Friday. Last month's total marks the third best of any month. The most is 6,660.

Meanwhile, there were 4,188 residential sales closed last month, up 16.3 percent from 3,602 closings in March and 23.5 percent from 3,390 in April 2009.

The median price for a single-family home rose 9.5 percent to $230,000 in April, compared with the same month a year ago. Median condominium prices rose 7.5 percent, from $130,000 to $139,700, during the same period.

Home inspector Dave Griffin expects he'll do more than 300 inspections this year as a result of the tax credit. He has even had to turn away 10 to 12 clients because he's so busy, a scenario he's both grateful for and nervous about because he's afraid his clients will switch inspectors. "It makes me crazy," he said.

Bill Rodriguez of Cherry Creek Mortgage Co. said May, June and July traditionally are busy months, but the expiring tax credit is making them busier. He has counseled many of his clients to write contracts that give them more time to repair their credit before they sit down to the closing table by June 30.

Mortgage broker Jim Spray said there was a 16.3 percent increase in loan applications nationwide in April compared with the same month a year ago.

"My gut feel is that we did somewhat better in the Denver metro area than in many other areas of the country," Spray said. "Bottom line is that it's too early to tell exactly what effect the tax buyer credit is having. Many of the purchase contracts will close this month and the rest must close by the end of June."

The question, experts say, is whether the rapid sales pace is sustainable. May sales are likely to dip, but it still should be a good month, said independent real estate analyst Gary Bauer.

Sales of homes priced at more than $1 million were up for the third consecutive month, said Chris Mygatt, president and chief operating officer of Coldwell Banker Residential Brokerage. There were 42 homes over $1 million that sold in April, up 24 percent from the 34 homes sold during the same month last year.