Buyers and Renters Come Home To Colorado

Frederick, Colorado

Recent job growth in Colorado is impacting the local real estate market in a positve way. This is good news for the Colorado economy and most notably-the local real estate market. As Colorado's businesses and state economy see gains, the trend for property prices stabilizing will turn towards increased home sales and rentals. The equation is quite simple - More Jobs = More Demand for real estate.

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Colorado Home Value Drop Among Lowest in US

Posted at Buyers and Renters Come Home To Colorado by Mike Gold

Aug. 1, 2008

Mike J. Gold
Managing Broker
RE/MAX Horizons Group
Office: 303.327.6880
Fax: 303.327.6890
Toll Free: 1.800.626.1419

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Colorado Home Value Drop Among Lowest in US

According to the S&P/Case Shiller home price index, which tracks home prices in some 20 major metropolitan areas, Colorado home prices fell 4.7% in the 12 Months Prior to April 2008. This is substantially lower than the national average of 15.3% Only Charlotte, NC and Cleveland, OH showed less of a drop in home prices during the same period.

Indeed, Colorado home values have shown great resiliency in the face of the nation-wide mortgage crisis, actually growing 0.8% between March and April 2008 while the average home price in the rest of the nation fell 1.4% during the same period.

In addition to the less-than-average home value drop, the Denver area has seen some pockets where property values have actually appreciated. Boulder and the Washington Park neighborhood of Denver are 2 prominent examples.

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