Real Estate News
Happy New Year! Now that the holidays are over it’s the perfect time to talk about what I think the real estate market will look like in 2013. So let’s jump right in.
According to Fannie Mae’s Dec. National Housing survey, Americans believe that home prices will rise 2.6% in 2013. This number is TOO LOW for what has been happening and what will continue to happen in the Metro Denver Market. I decided to give you some concrete facts because I have found that many people have no idea how HOT the Metro Denver Real Estate Market has become.
Average Home Price: The average price of a home in Denver leapt 14% in 2012, surpassing even the most optimistic forecasts (including my own!). I believe this year will be almost as strong with an average price increase of 8-10% and here’s why: The number one driver of home price change is the amount of inventory on the market. In 2007 we had a peak of 27,500 properties on the market and prices dropped 14%, while in 2012 we averaged 10,000 properties on the market and prices went up 14%.
I will be posting several times in the next few days with more info on 2012 stats.
Your Castle Real Estate: I am very Proud to work for Your Castle Real Estate. This company is always the most accurate when it comes to facts and figures on the Metro Denver Real Estate Market. That is one reason why we are the 5th Fastest growing, Denver area, Privately Owned companies. (source DBJ Research). If you want statistics about your specific neighborhood feel free to contact me at firstname.lastname@example.org or 303-880-8771 Denise Wambsganss – Realtor – Your Castle Real Estate.