- Investing in a top state
Experts say Colorado still made the list of the Top 10 places to invest in a home in 2015. Zillow.com reports home prices in Colorado increased by 13 percent last year. For 2015, experts anticipate a more than 4 percent gain in home prices.
- Relocating to Denver
Even more impressive is the factor that Reatlor.com reports that Denver specifically had a banner real estate year. Denver had the largest year-over-year gain in median home price at more than 38 percent. Denver’s success surpassed the housing results of 200 top metropolitan areas.
- Buying into a hot market
Other factors that will impact the Denver housing market in 2015 include low-interest rates and inventory as well as population and job growth. The Home Buying Institute projects people who buy a home in Denver will still enjoy appreciation or an increase in their home values. That’s because Denver’s population continues to grow, creating more demand for housing. Denver’s unemployment rate is now below 4 percent compared to the high of 9.7 percent during the Great Recession.
Although interest rates could stay low for many more years, it’s likely the Fed will raise the prime rate. Since interest rates continue to hover around 4 percent, home buyers are in a sweet position with greater buying power. At Peter Hauben Real Estate, we dedicate ourselves to helping our clients find the best real estate deals and informing them about the latest Colorado real estate news.[idx-platinum-widget id =”9594-30700″]