In 2015, the Denver housing market saw a very low number of homes that were available for sale. But, why? One theory is that the homeowners who survived the housing bust in the early 2000’s decided to refinance and stay in Denver. The other theory comes from Denver’s extremely low mortgage rates, coming in at around 4%. In fact, Denver currently has one of the lowest mortgage rate environments in history, making home buying affordable.
Major professional moving companies in Denver say that although the interest rates are extremely low and the availability is low, demand is extremely high, causing an increase in prices. The average family home price in Denver rose 11% since 2014.
Denver’s 2016 housing market predictions expect mortgage interest rates to rise from the lower 4% to roughly 4.6%, but for the amount of homes for sale to remain low. Housing costs are expected to continue to increase slightly with demand, but not see as much of an increase as 2015.
If you are planning on moving to Denver in 2016, since demand is high and supply is low, expert moving companies in Denver recommend that you hire a great real estate agent and mortgage broker. After you find the perfect home at the best price, make sure that you hire reputable movers and packers in order to make your move to Denver simple and stress-free.