Coldwell Banker recently held its fourth annual economic summit at the beginning of March. It proves to be a valuable and informative session of some of Denver’s premier real estate experts and national economist. Some of the highlights from this years presentation.
It is expected that home prices in the Denver metro area will rise between 5 and 7% with much of that growth in prices expected now through the end of summer months. Prices will grow moderately from late summer through the end of the year.
Interest rates are expected to continue a rise and we could see interest rates rise to as much as 5.0% by year end. That rise in interest can mean the difference of about $60 on every $100,000.
As with our sale inventory, we are continuing to see very tight supplies in our rental markets as well. And just as with our resale market, the low inventory is putting upward pressure on monthly rents as well.
It was stressed by the panel that if you are selling to move up in this market it is best to put your home on the market, find a buyer and then find your replacement home. If you are a seller that is moving down, it may be worth considering a bridge loan, finding your replacement home first and then place your existing home on the market for sale.
Need more in depth insight. Please contact us we would be happy to assist with your home selling or buying questions.