Maybe I'm wearing rose-colored glasses after just coming of 6-days of a much needed vacation, but the news this week surrounding real estate is sounding pretty good. No complaints here, just a very welcome observation from the normal doom and gloom!
- What's happening? The conditions are right to buy, Affordability Reaches Highest Level in 20 Years, interest rates dropped this week (4.84%). There is new job creation and a pent-up demand for housing so naturally home sales are going to be stronger. Read WSJ about Mortgage Rate Falls to 2011 Low
- Apartment occupancy rate is up - this is good for first time home buyers. The law of supply and demand will raise the rental rates and make home-ownership more attractive than renting. Read about it more in the Denver Business Journal
- In an article on Realty Times, Denver is listed among cities where homes are selling fast! The least amount of Days on Market are Oakland, CA, San Francisco, then Denver, Colorado with 66 median days on the market and a median list price of $259,900
- The Denver area ranked 19th out of 146 markets nationwide in online searches for real estate listings at Realtor.com in both March and April, ahead of New York, Houston and Washington, D.C.Read more: Denver 19th for real estate searches at Realtor.com | Denver Business Journal
That's the summary for this week. Have a good Memorial weekend and don't forget to fly that flag!