Denver Sees Some Glimmers of Hope...

By
Real Estate Agent with The Devonshire Company

As I've said before, the Denver real estate market one bright (er) spot when assessing real estate nationally.

The Rocky Mountain News reported this week that Denver's home prices are falling slower than the national average and we've even seen price increases over the past several months. In fact, Denver is the second-best performing city in the S&P's 20-City Home Price Index.

That is, until the last 2 weeks of September when all hell seems to have broken loose...

Nonetheless, Denver showed a 4.7% decrease in prices over the one-year period while the nation recorded a staggering decrease of 16.3%. Denver reported a 1.5% increase from May to June this year and another 0.8% increase from June to July of this year.

Over the one year period, only Charlotte performed better than Denver, posting a decrease of 1.8%.

Click here to read the Rocky Mountain News article in its entirety.

What does this mean for consumers?

Despite the recent market trends and consumer fears, real estate prices are very low as are interest rates. This makes it a great time to purchase a home. The only problem you may run into is too-hard-to-get financing which may see some relief if a bail-out plan is passed by the government. For those of you with great credit, financing is still quite attainable (and you may be the only people who should be purchasing homes right now!).

Some food for thought.....

Do you remember all of those people who lost out on historically low interest rates last spring because they kept waiting for them to drop even further? Well, interest rates, just like home prices, only stay low for a period of time before they start rising again.

Now is the time to take advantage of spectacularly low home prices before they're a thing of the past.

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