Denver Homes: Denver Housing Market Tightens

An interesting article in the Denver Post today regarding Denver homes and the real estate market.

For months, we’ve been explaining to clients looking in certain areas and / or price ranges in the Denver metro area, that despite what they read in the news, the market is very tight and the best deals are going under contract quickly. In the past 2 weeks, we have multiple bid situations on at least 4 properties. two of these were Denver Fannie Mae homes, but 2 were standard resale homes.

The article today in the Denver Post does a good job explaining some of the reasons why inventory is so tight:

Foreclosure filings are down sharply in Denver, and the homes that go to auction are only a fraction of that number.

That is just one of several reasons why the inventory of unsold homes is shrinking, Bauer said.

Many sellers are on strike, in that they don’t have to sell and won’t until prices improve. Other sellers might prefer to sell but owe more than their homes are worth and can’t afford to bring money to the closing table.

Tight credit is another factor. Buyers have to put more money down to obtain a mortgage, and lenders are less likely to cover the costs of home improvements than in the past, putting turnkey properties in demand.

Read more: Denver housing market tightens – The Denver Post
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If you’d like to talk more about inventory, foreclosure, Denver HUD homes or how the inventory (or lack of inventory) impacts you, give us a call at 303-726-1874.


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