2012 is proving to be promising for the Denver Metro housing market. In fact, economists are reporting a 13.2 percent increase in home sales so far in 2012. This shows that the Denver Metro real estate market seems to be on the road to recovery. While homes are not yet experiencing appreciation, things seem to be moving in that right direction as the number of sales increases and inventory levels overall are down.
Real estate experts are citing an increase in the number of first time home buyers as a boost in the Denver Metro real estate market, leaving the inventory down 41.9 percent from February 2011.
We are also seeing an increase in the number of buyers that are moving up from their first home and purchasing homes in the $200,000 range. Additionally, people who are selling their homes to these first time buyers, and “move up” buyers in this price range are purchasing more expensive homes.
The result? The real estate market in Denver Metro is really starting to move!
With the suffering real estate market affecting so many for so long, it is exciting to read a different story in the news than we have been reading for the last few years. Now, we are reading a promising story of families purchasing their first homes. Or, families growing and moving in to bigger homes.
If you are getting ready to make your next (or first!) real estate purchase, make an informed decision with the help of a buyers agent. Contact us to begin interviewing agents today!