Looking to invest your money wisely? Home ownership is a lucrative investment choice, especially in the Denver Metro area. There has never been a better time to invest in the real estate market. While property values are increasing, interest rates are at historical lows! Low mortgage interest rates paired with an increase in demand for homes ensure that now is the time to sell or purchase a home. Take advantage of the amazing market and invest in a place that you can call home!

Wade Perry, 9NEWS Real Estate Expert reported, the market data from September 2015 has some asking the questions, "has the market peaked?" and "is the party over?" While the answer to both these questions is "no," the market has shifted a little.

For the first time in years, we are seeing many homes lowering their List Price from their original List Price. Over 1,000 homes available for sale have lowered their List Price in the past WEEK alone. We have not seen this happen in many years. This means homes are on the market a little longer and the prices are not climbing as fast, making it easier for the Buyer to compete.

Interest rates remain at historic low levels. The 30-year fixed rate mortgage is at around 4 percent and the 15-year fixed rate mortgage is close to 3.25 percent. In addition, the average credit score of borrowers has been lower with some borrowers getting mortgages with scores below 660. This is a window of opportunity for today's homebuyer in Denver. Prices are moderating, mortgage rates remain low and there are more properties to choose from.

According to Housing Predictor, there is no hotter real estate right now in the country than the Colorado housing market. At the beginning of the year, Colorado home prices rose 9.8% between February 2014 and February 2015. And the market keeps moving up. In June, the state reported record sales with the average residential property being sold for $377,550. But, summer is still the prime time for real estate sales and as such, the market has cooled since then.

Influencing Factors for the 2015 Colorado Housing Market


  • Colorado home values have increased 12.8% over the past year and forecasts have this number rising another 4% in the upcoming year.
  • Because availability is so low, rental prices across the state are high. The median rental price is $1,695 in Colorado.
  • Homes do not spend a lot of time on the market. Homes listed on Zillow spend an average of 59 days on the market.
  • The Colorado Market Health Index is 9.2 out of 10. This is due to the quickness that homes are sold, the price that they are selling for, low negative equity, and low delinquent on mortgage rates.
  • New home construction will help to ease the housing demand. As more units become available in the upcoming year, look for home values to begin to cool down.

     
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