The housing market reached its bottom in 2012, and is well on its way to a recovery. Economists and experts are predicting great things for the housing market in 2013 as long as the economy continues to grow, and interest rates remain low. If these things continue to happen here are the types of buyers you can expect to see in the Denver housing market in 2013.
Boomerang Buyers: During the recent downturn in the economy many home owners lost their home to foreclosure and are now currently renting a home. We can expect these previous home owners to flood the market in 2013 as they are ready to buy. At this time it is more than likely that they are paying more a month in rent than they would on a home mortgage.
First-time Buyers: There are many would be first time homebuyers out there that have been waiting to see when the housing market would hit its bottom so they could scoop up a great deal. Home prices are rising and these buyers will soon see that now is the time to start buying before they miss their opportunity.
Investors and flippers: In 2013 we will continue see investors in the housing market. We will also see flippers back in the market as they come to realize that they will once again make a return on their money.
Empty Nesters and Retirees: This year we will see those home owners that are looking to move-down come back in the market. Empty nesters and retirees are still sitting on a lot of equity in their current home, and as home prices continue to increase these buyers will make a move to find a home that is more suitable to their current lifestyle and needs.
Moveup Buyers: With home prices increasing in 2012 many homeowners are no longer underwater on their current mortgage. In fact, nearly 1 million underwater homeowners were lifted out of this status last year. As prices continue to rise this year we will see even more homeowners in this situation and they will be looking to buy a bigger home.
Are you ready to buy or sell a home in the Denver area? Let the professionals at the Bandy Team help you buy or sell your Denver home. We would love to show you some terrific properties in Englewood, homes in Cherry Creek, or the charm of real estate in Aurora.
Until Next Time,
The Bandy Team
RE/MAX Professionals- Denver, CO
"From Our Heart to Your Home"