It’s February and not only is love in the air, with the approach of Valentine’s Day, but home buyers’ interest in home shopping has also been peaked. Despite the sub-zero temperatures and snow Denver has received lately, here at The Altitude Living Group with Keller Williams we have been hearing our phones ringing as home buyers are getting excited about the coming Spring. While we saw similar interest last year due to the first-time homebuyer credit, after the credit expired on April 30th, home buying seemed to grind to a halt. As we reached the Fall a few brave buyers began showing interest and November was our second busiest month of 2010 (after March). These new signs suggest that many buyers have stopped mourning the end of the tax credit and have decided that the market has reached the bottom and begun to climb back up, resulting in home seekers venturing out once again. Low interest rates haven’t hurt either.
After all, home ownership has historically beaten inflation and there is the personal pride and joy of owning your own home. Denver- Aurora- Broomfield, Colo. was identified by Businessweek.com as one of the U.S. metro areas with the best long- term real estate.
Denver- Aurora- Broomfield, Co. average home prices in 1990 were $144,290 ($86,000 in 1990 dollars), in 2010 average pricing was at $238,500. This is a positive change in real dollars of 65.3%. Please remember that Denver peaked in 2006, so using the average price in 2010 accounts for 4 years of price regression and shows that despite our recent slump there has still been a huge long-term gain from home ownership.
Click here to see the full list of Biggest Metros With the Best Long-Term Real Estate.
