Denver Housing Market Outperforming Rest of the Country
Good news for the Denver real estate market! The Rocky Mountain News reported today that at the end of last year, the Denver-area housing market was outperforming 19 of the largest markets in the country. According to the S&P/Case-Shiller Home Price Indices released on Tuesday morning, Denver home prices declined only 4 percent from the fourth quarter of 2008. From November to December of 2008, the metro Denver housing market declined 1.5 percent. Boston had the only real estate market that performed better with a decline of 1.3 percent.
For more information on Denver-area home prices, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver Home Prices Faring Better Than Rest of the Country
After a crazy couple of weeks on Wall Street, we could all use some positive economic news. Well, there is more good news for the Denver real estate market – Denver home prices continue to outperform the rest of the country. This month’s Standard&Poor’s/Case-Shiller Home Price Indices was released today, and the closely analyzed report revealed that Denver-area home prices dropped 4.6 percent from the summer of 2007 through July of 2008. While this doesn’t sound too good upon first glance, this is actually a rosy number compared to the overall 16.3 percent drop recorded for the 20 cities studied. Just to put it in perspective, Las Vegas and Phoenix have seen home values decrease nearly 30 percent this year!It is a Great Time to Purchase a Home in Denver!
Reluctant Denver Homebuyers are Missing Out on a Great Opportunity!
The Rocky Mountain News recently published an interesting article that examines an epidemic currently plaguing the Denver real estate market. In Friday’s article, “Home buyers have cold feet in hot market,” RMN Reporter John Rebchook examines a trend plaguing the Denver real estate market– although home prices are low and inventory is plentiful, many prospective homebuyers are simply sitting on the sidelines, fearful that they will make a mistake. We don’t want our prospective homebuyers to miss out on one of the most optimal buyer’s markets in years, so TeamCox Realtors has been trying to cure for this epidemic for months. If you are a bargain hunter, now is the time to purchase a home in Denver.
We understand homebuyers’ uncertainty given the state of the national real estate market, but the Denver housing market is rebounding much faster than other cities’ markets. Last month’s S&P/Case-Shiller Home Price Index indicated that Denver home prices are faring the best out of the 20 metropolitan areas surveyed. Other strong indicators are that the pace of home sales is increasing, and the inventory of homes for sale has plummeted 15% from last year. A few more reasons to buy this fall include: mortgage rates are relatively low, sellers are willing to negotiate much more than they will next fall, and there are bargains to be found throughout the Denver metro area. One other thing to consider is that even if your home doesn’t sell for top dollar, you will easily make this amount up when you negotiate a fantastic deal on your new dream home.
In addition, if you are first time Denver homebuyer, it is imperative that you understand all of the changes that will be taking effect on October 1st – please click here to read our blog on this subject. You will need to act very quickly to beat this deadline.
Warm up those cold feet, and start house hunting! If you are sitting on the sidelines, waiting for the Denver real estate market to rebound, someone else is going to snatch up your dream home at a fantastic price. For more information on purchasing a home in the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
Denver-Area Home Prices Continue to Improve
It’s a great time to live in Denver! Our beautiful city shone in the national spotlight of the DNC this week, and I am so proud to say that I live in such a thriving place. Regardless of your political affiliation, you had to appreciate the fact that Denver reasserted itself as a fresh and energetic western city.Since home prices in Denver have been on the rise for several months now, this just reinforces our steadfastness that this is the opportunity to purchase a home in Denver. For more information on the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
Denver Home Prices Continue to Improve
More Good News for the Denver Real Estate Market!
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The monthly S&P/Case-Shiller Home Price Indices report was released today, and there is more good news for the Denver real estate market. The report, an important barometer of both the local and national real estate markets, revealed that although Denver home prices are 4.8 percent lower than they were a year ago, there was a 1 percent increase from April to May of this year. Boston, Charlotte, and Dallas were the only other cities to see a 1 percent increase, and Atlanta, Portland, and Minneapolis also saw modest increases. While the 4.8 percent year-over-year decrease may not be pretty, it was the third best number on the report, which encompasses 20 metropolitan areas. Only Charlotte (-.2%) and Dallas (-3.1%) saw a lower year-over-year decline in home prices than Denver did.
Denver Real Estate Market Once Again Outperforms National One
More proof that the Denver real estate market is faring better than the rest of the country
TeamCox Realtors recently came across more encouraging news regarding the Denver real estate market. USA Today reported the results of the S&P/Case-Shiller Home Price Index last week – almost all (with the exception of Charlotte, North Carolina) of the surveyed metro areas saw price declines from March 2007 to March 2008.
There was a ray of hope in that the Denver real estate market once again fared much better than much of the nation. Denver posted a 5% decline in home prices, which was the fifth best number out the twenty areas surveyed. Only Charlotte, Dallas, Portland, and Seattle fared better than Denver. Metro areas enduring year over year 20+-percentage point declines in housing prices include Las Vegas, Miami, Phoenix, Los Angeles, San Diego and San Francisco.
The reason for this is simple – Denver did not experience the rapid price gains that many other areas experienced in recent years. Since the Denver housing market also weathered a deteriorating housing market long before the other areas, it is only natural to expect an earlier recovery. For more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
