Local Market Monitor predicts 7% home prices rise in Denver and Highlands Ranch thru 2015
A recent article in Barrons titled “Happy at Last”, discusses the Case-Shiller 20 city Home Price Index detailing the peak of Denvers market, August 2006, to the trough date of Feb 2009, which amounted to a 14.1% decline, but also resulting in a recovery so far of 9% off the low. This is great news considering how other markets have dropped from their peaks
(a V-Shaped market):
- Phoenix is 55.9% off their peak
- Miami is 51.2% off their peak
- Las Vegas is 61.7% off their peak
and compared to Denver, only Dallas had a smoother ride off their peak of 11.2%, (but who wants to live in that climate all year long). Keep in mind that we never went sky high in our prices, nor dropped like a falling knife off the highs.
This brings us to what the Local Market Monitor in saying that “Denver will advance the most thru 2015″. This is based on unemployment rates, job growth, single family/multiple family building permits, income and its relationship with home prices.
The Local Market Monitor also predicts its forecast growth for Denver as follows:
- next 12 months of 4%
- then next 12 months of 5%
- then the following 12 months of 6%
This comes to a 3 year forecast of 16%, adding onto the latest 12 month price gain of 2.4%.
So let me ask you? How much are you earning on your CD’s today?
Call me at 303-888-2488 or email me at Michael@mysearchhomesforsale.com, or search the MLS on your own terms by clicking on our new site: www.mysearchhomesforsale.com, or for information on your particular neighborhood.