Are you thinking about buying a home in Denver, Colorado? If so, you might want to think about purchasing sooner rather than later.
Realtor.com published its latest ranking of the “hottest” real estate markets in America. Denver, CO appeared at #2 in the national rankings for July. This recurring feature ranks local housing markets based on the speed of home sales and the level of buyer demand.
In short, markets with the most demand and the fastest selling homes are ranked at the top of the list. These hot housing markets are very attractive to buyers, and are viewed on Realtor.com as much as three times more often than the national average.
Some wonder will home prices continue rising through 2015 and into 2016? While no one can make such a prediction with complete accuracy, based on current housing market conditions in the Denver metro area, it’s likely that home prices will continue rising through this year and into next.
But there are also signs that this market could begin cooling over the coming months. Here’s one sign the market might be cooling: Recent data show that home sellers in the Denver real estate market are seeing fewer offers above the list price. This suggests that demand for homes could be easing, which in turn could pave the way to a leveling off of home prices.
The bottom line: Denver is currently a hot, fast-paced real estate market where home buyers need to be on the ball.