As the demand for buying a home in Denver continues to rise, the prices are also jumping in direct correlation. Online real estate data source Zillow has released some data pertaining to the region and its massive growth in comparison to the rest of the United States. The Cherry Creek movers have found that the real estate growth in the Denver metro is leaps and bounds beyond the national average–with home prices rising here to twice the national average. Across the board, Denver numbers are soaring.
Home price gains for Q2 in the Denver metro were recorded at 12.1 percent higher than the same time period of 2012. The median for homes sold in Q2 of 2013 came in at $240,100. In comparison, U.S. home prices rose 5.8 percent from the same time periods, and the national median clocked in at $161,100. Despite a lower median, the second quarter of 2013 was the busiest period for the U.S. housing market since 2004.
With home prices already set significantly higher in Denver, will they continue to climb? Experts say no. Prices remained stable in Denver throughout the recession, so they didn’t have anywhere to go but up.
Recent home spikes, mortgage spikes, and availability drops are all credited with impacting the current real estate outlook for Denver. What’s to come for the rest of 2013? We’ll be sure to share it as we learn about it. If you are considering a move to the Denver metro, we encourage you to come out and visit. Come see what makes Denver one of the most desirable places to live in the USA!