What is the Denver Real Estate Market going to look like in 2011? We all wish we had a crystal ball to look into the future to see what is going to happen. Since we unfortunately don't have that luxury, we have to instead study the trends from 2010, reports coming out from the experts and changes we have seen so far since the New Year was ushered in.
This time of year, reports come out almost everyday that analyze sales from 2010 and use these analyticsto make predictions for 2011. One of the most promising reports is one that came out this weekranking Denver theninth best Real Estate Market in the country. This report, the Emerging Trends in Real Estate Report, is the longest running Real Estate report in the country and when they make predictions, people take notice.
The report had this to say about Denver: œThe city made progress positioning for 21st-century growth by strengthening its downtown core through a new light-rail and railroad hub to serve surrounding suburban nodes. As a result, the central business district becomes œthe place to be, and mixed-use, transit-oriented development helps anchor suburban districts. To read the full report on Denver, click here.
Another good sign for Denver is that it continues to be recognized as a growing and desirable part of the country. The Fed's Beige Bookreport, which just came out,sees continued expansion in Colorado's region's economy. Fed officials noted œstrong consumer spending over the holidays in the Colorado region that œlifted retail sales and expectations for future spending. It is always good news when the Fed sees Colorado as an expanding economy and let's hope it continues. Click here to read the entire report.
And another good sign for the Denver market is the number of people moving to Denver. While natives dread the thought of more people invading their state, this obviously creates more demand and thus higher sales prices for homes. According to the latest Census report, from 2000 to 2010, Colorado was the ninth-fastest-growing state in the U.S. by population increase 727,935 residents and percentage increase 16.92 percent. With Governor Hickenlooper making a point already to create jobs and bring more businesses to Denver, it only makes sense this trend will continue.
Everything is looking up for the Denver Real Estate market and judging by the amount of activity our office has already seen since the new year started, our office agrees it is going to be a great year for the Denver Market. If you are thinking of buying, do it now before rates and prices continue to go up. And if you are thinking of selling and moving up, there may not be a better time either.
Socials