Several of my previous blogs including one on March 20th have stated that the Denver housing market trends were improving and that our market was showing signs of hitting bottom. TODAY, the Denver Post is reporting that sales figures how Denver experienced appreciation of .8% in April. It is interesting to note that Denver was the only city out of 20 surveyed to show any appreciation for the period. All other cities are still showing downward trends.Last March I suggested it was time to start shopping for the best values in home purchases that would likely be found in Denver. Since 2000, Denver has realized a 28.5% increase in housing prices. Although this is below some other cities in the survey, it represents a steady sustainable appreciation during those years.
If you ever considered buying a home in the Denver area, now is (or perhaps last March before the prices started going up was) the very best time in the past four years to do so.
Interest rates are remain very low and affordable. Although we still have homes going into foreclosure every month, the rate of new foreclosures is also starting to decrease. Additionally, builder starts are also decreasing. These factors combined with greater buyer confidence and demand for home ownership have resulted in a slow but steady decrease in the available Denver home inventory. Less inventory with greater demand can only mean increased prices. - - - Did I mention that now is a great time to be buying a home in Denver?
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