Denver Home Prices Keep Their Value
Posted by Metropolitan Group on Tuesday, March 16th, 2010 at 5:15pm.
The Standard
& Poor’s report on home prices that was released on January 26, 2010 shows
that Denver home prices are showing improvement, unlike many areas of the U.S.,
hard hit by the foreclosure crisis. This
is good news for both real estate buyers and sellers, as it shows that the
Denver home market is stabilizing much faster than other parts of the country.
Twenty major
U.S. cities were examined in the S&P report, but only 4 showed a
year-over-year price increase. Denver
was one of them. Between November 2008
and 2009, there was a 0.5% increase in home prices.
Don’t think
that’s a lot? Think of the difference a
single percentage point makes to your mortgage cost and then look at the
numbers. Half a percent is a lot and
it’s enough to make people look at Denver real estate with a hopeful eye. Denver is one of the very few cities that is
showing signs of a stable real estate market and thus is a better bet than
homes that could plunge even farther in value.
The Denver
home market has not been free of the foreclosures that are still plaguing
America, but its more moderate slide in value has enabled it to recover faster
than other cities, some of which have plunged more than 25 percent. While home prices here are nowhere near the
peaks they enjoyed in the mid 2000s, they are not experiencing roller-coaster-like
peaks and crashes. This means that
buyers are more likely to weather subsequent fluctuations in home values.
Print
ShareBe the first to comment on this blog entry!