The most recent Case-Shiller index shows Denver home prices rose 10.1% in August. That’s great news in the short-run for sellers, many of whom are thrilled to recover the loss of value they experienced with the real estate downturn.
But what does this mean for Denver-area buyers? These double-digit gains, if they continue, will make it more difficult for your average buyer to purchase a home in the long-run. That said, right now is a great time to buy, because interest rates remain very low. Despite what you may have heard about rates on the rise, interest rates have dropped again, and are still at some of the lowest rates we’ve seen historically.
Check out the full story, including a quote from Peter Niederman (Kentwood’s CEO), in the recent article at Inside Real Estate News: