We have been noticing several articles/statistics recently that point to various housing indicators with a positive outlook for the Denver Metro area. This week, we compiled several of the articles into a mailing for our clients. Here is the information we sent.
Highlight: Metro Denver home prices moved higher for the second month in a row in May, raising hopes that the region's long- suffering housing market could be stabilizing. Metro home prices rose 1 percent in May from April, adding to a 0.8 percent gain in April from March.
Highlight: Denver-area housing is bucking a national trend, showing a price decline of only 4.8 percent in May from May 2007, according to the S&P/Case-Shiller Home Price index released on Tuesday. During the same period, housing prices in the 20 metropolitan areas tracked in the report declined by a record 15.8 percent.
Highlight: The estimated percentage risk that home prices will be lower in two years in Denver is less than 1%.
Highlight: Mid-summer housing data are showing favorable swings in inventory and sales that haven't been seen in the Denver metropolitan area in five years…The data indicates a return to rising home prices early in 2009.
Time to lock in your mortgage rate: Home buyers may find big savings in locking in mortgage interest rates.
Highlight: Today’s mortgage market is very volatile, and rates are trending upwards. So losing out on a good deal may mean it's gone forever. If buyers see a bargain, say experts, they should pounce.
We'll be continuing to keep a close eye on the Denver Real Estate market data and will report here on any additional interesting trends. Keep on reading!