It’s about time ~ Denver is #1
The Rocky Mountain News reported Denver is at #1 in home value increase. A study released last week by S & P Case-Shiller indicated an increase of 0.3% for the Denver metro area. Other cities studied had an overall average of minus .07%.
We are hearing more and more how Denver is climbing out of the slump. For the past 5 months the statistics have been raising.
The market continues to be very good in some parts of town while other areas are stagnet.
Our biggest problem right now stems from the inability of our relocation buyers to purchase here. They are in situations where they have homes to sell in other parts of the country. If we could solve this problem, our appreciation rate and sales would both go up.
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Cleveland was down 4.1 percent. When I look at the figures for those with higher declines I can’t decide if that is a recovering from a whirlwind of higher sale prices in some of the places; they seem to be in areas where ‘bubble blogs’ were prominent. But for Denver this is terrific news! I hope it keeps stable or keeps improving for all of you.
Denver has a reputation for having an economy that is the opposite of the rest of the country. Oil and gas are up right now, so is Denver and Dallas. Go figure!
Glad to hear good things happening in Denver. I have only been there once and we would like to go there sometime in the near future.
Relo buyers not selling their present homes is not uncommon in this market. Let’s hope inventories shrink and interest rates decline along with oil prices and maybe things will get even better.
Kristal - That’s great news - bet that made you smile after the Rockies
We are experiencing that too. I have a client in Atlanta that can’t buy here until they sell there. Glad to see house values strong - we’re still in a heavy buyers market - good news is lots of people are getting in on the action and lots of our listings are getting offers in the last 2 weeks.
P.S. Thanks for the visit and including me on your Blogroll Buzz. - Cyndee Haydon