Throughout Denver and the Nation, a more stable economy and increased job growth are helping home prices rise at a pace that hasn’t been seen since 1977. Though mortgage rates are increasing, they remain at historical lows, thus continuing to create a greater demand for housing. This demand, along with a low inventory of homes, is pushing prices up. A recent study by CoreLogic, a real estate data provider, showed that in June alone, home prices rose 10.5% from last year in Denver and 11.9% nation-wide. With homebuyers holding on to their homes in order to recoup some of their loses from the 2007/2008 crash, the new market promises them higher prices than have been seen in years.
For results from CoreLogic’s study please view the following articles: http://www.denverpost.com/breakingnews/ci_23805044/home-prices-denver-area-increase-10-5-percent