The Denver housing market has been so tight for the last couple of years but it slowed down this summer. Many buyers are not aware that there is more inventory on the market now and prices have actually go down this summer. If you thought you could not buy a starter home, condo or townhome, it may be time to look at the options and see if home ownership now is within your reach. It is widely anticipated that mortgage interest rates will start rising next year which will offset the drop in prices. This could be the best window for buying a home or condo for some time.
The Denver Post recently wrote (denverpost.com/metro-denver-housing-market-slides
"Metro Denver’s heated housing market continued to show signs of cooling in August, with single-family home sales and median home prices dropping for a second month, according to a monthly update Wednesday from the Denver Metro Association of Realtors.
The median price of a single-family home sold in the 11-county area fell 2.4 percent from July to August for $410,000 but remains up 7.9 percent over the year. The number of single-family homes sold fell 8.7 percent month over month and is down 10.6 percent from a year ago."
With down payment assistance programs available as well, it is a good time for the first time buyer to look for a home.
If you would like to enter the real estate market and would like to find that perfect sized home for your needs, go to this website and begin your search. Downsizing-in-Denver
I can assist you with that search, provide additonal information on properties, or schedule showings for you. I also can guide you to the resources for qualifying for a loan.