Denver Real Estate Market Strengthening

There are concrete, solid stats that support everyone’s hopes-the Denver real estate market is recovering. According to the Real Estate Market Trends, released by the Denver Metro Association of Realtors, as of September 2012, there is the lowest inventory per capita that Denver has ever seen. In general, there are only about 2.7 months of inventory and more buyers than there are sellers. And compared to 2001, there are about 20% more people in Denver, but we still have the same inventory levels as 2001. And for the first time since the housing market crash in 2008, the September average sale price has beat levels from six and seven years ago, surpassing those levels from 2005 and 2006. These are sure signs that the market is making a strong comeback! So if you wanting to sell your house, now is the time!

Colorado Homes Prices Up 7.3%!

In the U.S. over the last year, homes prices have jumped up a staggering 3.8%. This increase is reason for cautious optimism, considering how weak the real estate market has been. And this is the biggest year-over-year increase in the last six years, a Denver Post article reports.

Ready for some better news? Colorado’s home prices are up 7.3%, ranking as the fifth state with the biggest gains. It falls behind Arizona, Idaho, Utah, and South Dakota. Since July 2011, Arizona’s home prices have risen nearly 16.6%.

Although the housing prices remain below where they were in April of 2006, the market has been slowly recovering in 2012. Builders are starting work on more homes, the sales of new and previously occupied homes are up, and mortgage rates are close to their lowest levels in the past 60 years. The recovery may be slow, but it is happening!