The active inventory for single family homes and condominium units in Denver is currently at a six year low. The market is seeing multiple offers, especially in homes under the $300,000 purchase price. This is a good indicator of appreciation on starter homes.
Also, according to The Standard & Poors/Case-Shiller home price index, the Denver area fared best among 20 different cities in the U.S. that reported sharp drops in home prices. Denver reported a 5 1/2 percent decline compared to other cities that had as much as a 36 percent decline.
I believe the worst is behind us and the market is beginning to stabilize, especially in the Denver Metro area.
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