Denver Homes: Metro Home Values Expected to Rise $21.4 Billion in 2012

While our team, and most Realtors, hate the infamous Zillow “Zestimate” (a tool on their site which they admit can be off by +/` 10%), their market analysis is usually more reliable and at least worth a read. Yesterday, a report was released by Zillow detailing Denver Homes and the price rebound the market has experienced over the past year.

According to this report, Denver Homes’ are expected to see an increase in value of $21.4 billion and nationwide, the figure is $1.3 trillion.

The report is detailed in The Denver Post:

The Zillow report, released Thursday, characterized the nationwide annual price gain as the first in more than five years and the largest since 2005.

Overall, U.S. homes will reach a projected value of $23.7 trillion, up 6 percent from the end of 2011. Last year, cumulative home values fell almost $792 billion from 2010.

The projected value of all homes in the Denver area at the end of 2012 is $242.5 billion, meaning the projected gain for the year is 9.7 percent.

Ron Throupe, an assistant professor at the University of Denver’s Burns School of Real Estate and Construction Management, said he wouldn’t argue with Zillow’s data.

“We know Denver has done well this year …,” Throupe said. “Of course, some markets across the country got hit very hard, so it’s not difficult for them to have a percentage gain that’s very significant.

Read more: Denver metro home values expected to rise $21.4 billion in 2012 – The Denver Post
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The report is worth a read and is just another in a long line of data pointing to not just a market recovery for Denver, but a significant growing market.

If yo ware considering buying in the Denver market, give our team a call. Their are still some good deals on Denver foreclosures and Denver short sales, but as the market heats up, these deals are selling faster and faster.


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