Housing in Denver affordable for first-time homebuyers
Real estate in Denver shows promise for first-time homebuyers. Data released by the S&P/Case-Shiller Home Prices Indices on January 31, 2012 that was accrued until November 2011 shows a decline in housing prices. However, these low prices and mortgage rates have, to some extent, driven consumers into the housing market.
Prices in Denver dropped .5 percent using the non-seasonally adjusted (NSA) rate measuring the change between October and November. However, it grew .4 percent if seasonally adjusted (SA). In contrast, from September to October rates decreased .2 percent (NSA) and .5 percent SA.
According to HousingPredictor.com, tight inventory has developed competitive bidding for properties viewed as a deal. A first-time homebuyer may wish to consider looking at area markets to determine which house offers the best rate. Approximately 20 minutes outside of Denver is Aurora, a quality suburb area with a forecasted price decline of 4.1 percent.
The predicted decline makes this traditionally tough market more affordable for first-time homebuyers. The real estate in Denver offers new opportunities for consumers.