Has the Denver market bottomed out yet?Looking at this graph, it sure likes it has. This graph is the S/P Case-Shiller Home Prices Indices that shows the percentage of change in price for the past 22 years across the nation. Looking at the low spot in 2009, it sure looks like we have bottomed out, especially in Denver which has consistently outperformed the nation of late.
The past two years, I have spoken with countless buyers are sellers who said they are waiting for the bottom to hit before buying or selling. I would ask them when they knew they were at the bottom and they said they would just know. Looking at this graph, it sure looks like we are making a great recovery, and I wonder how many buyers are kicking themselves now? Combined with the lowest interest rates ever seen, especially in the past twenty years of this graph, you can understand why it is a great time to buy right now and if you keep waiting for the "bottom" you are probably going to miss out.
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