Denver home prices continue to rise and there is no sign of change in the near future. Here is what the Denver Business Journal reported…
Home appreciation in the Denver area will continue to rise, according to a new study.
In fact, the Denver market is No. 2 in the country when it comes expected home appreciation during the next 12 months.
That’s according to California-based Veros Real Estate Solutions, which estimates that Denver-area homes will appreciate 10.3 percent over the next 12 months, behind only Seattle’s expected 11.1 percent appreciation.
Fort Collins-Loveland’s appreciation rate is 8.1 percent, or No. 8 in the country, and Greeley is No. 12 at 8 percent, according to Veros.
“Denver … continues to show a tightening of home supplies at around 1.1 months. Combined with an unemployment rate of an extremely low 2.1 percent and rapid population growth, this is one of the forecast strongest markets in the country,” Veros said in a statement.
Nationally, homes are expected to appreciate 3.7 percent in the next year, according to Veros.
“Seattle and Denver again show no signs of letting up as the top markets,” said Eric Fox, vice president of statistical and economic modeling at Veros, in a statement.
Last month, the Denver Business Journal reported that average home prices in metro Denver increased by 10 percent from a year earlier to $439,161.
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