Good news for the Denver home owners. Median home prices rose 14% in March.
What seems to be impacting this percentage the most is more people are purchasing homes in the 300,000 to 450,000 price range. The actual value of homes have not risen 14% but more people are purchasing homes in a higher price range.
People are just now starting to buy homes again. With mortgage rates staying low, and the new home buyer tax credit, it has impacted people purchasing homes again. Rates are expected to increase over the next several months.
Denver’s market did not see the overinflation in values nor the drop in values that other parts of the country experienced. The Denver market is much more stable overall than other home markets.
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