Real estate market-intelligence firm Hanley Wood recently released data showing Denver as the 10th strongest housing market among the nation’s top cities. The city held its high ranking thanks to steady home values, decreasing foreclosure numbers, and a healthier-than-most economy.
Although there is still a part of the recovery process ahead, Denver is ahead of most U.S. cities. The housing market has gone through the worst and looks to continue its recovery through the remainder of 2011.
Denver home buyer interest is till relatively low, but net demand for homes still exceeds supply of new construction. Resales and new home sales are also well-outpacing distressed property sales. Even better, Denver homes are selling at the same average price as they were in 2005, a figure that certainly cannot be claimed by most cities throughout the country.
Why does the housing market continue to look so good? The Denver economy is proving to be one the best in the nation, and it looks to recover jobs that were lost during the recession six months before other areas.
Want to learn more about the current Denver real estate market and everything it can offer you? Contact me at 888-860-1931, and I will walk you through recent sales numbers and the outlook for 2012 and beyond.