Why Are Denver Home Prices Going Up So Fast?
Posted by Jess Feaster on
If you live in the Denver area, you’ve felt the rapid rise in home values. That’s because Denver averaged a 12 percent per year increase from 2013 to 2015. Wondering what’s causing it? Here are the top reasons why Denver home prices are growing so fast.
- Supply & Demand - Thousands of people are moving to Denver every week and the housing market simply cannot keep up. According to the DMAR Trends Report, Denver's housing inventory hit a record low of 5,463 active listings this past May. It has come up since then, but it’s still almost 10,000 below our 30-year average. It also doesn't compare to the 30,457 listings that we saw in 2006. No wonder they call it a seller's market.
- Rents Are Growing Too - Denver's rent growth is rising at a much…
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