Home prices have appreciated by 10.9% according to the Case – Shiller report released last September. Denver ranks second in home appreciation across the nation. San Francisco lands the top spot with an appreciation of 11.2%.
Rental property management companies In Denver Colorado emphasized that the price appreciation is occurring in a low inflationary area. Homeowners will be able to reap a lot of money and fatten their pockets. Even lower end homes in Denver have benefited from the price appreciation. There are a lot of homeowners that would want to sell their houses but are unable to do so because it is difficult to find a replacement home. The strong economy and employment opportunities have attracted millennials which in turn has increased the demand for housing. But Denver will have to wait for a few more months until developers finish their housing projects and put them on the market.
Some people have expressed their concern that the rise in home prices will affect housing affordability. However, interest rates are low and the stable local economy and job growth allow people to afford quality housing. Nationally, home prices are slowly increasing and home prices are rising higher than the inflation rate. The economy as expected has recovered from the slight drop earlier this fall.