Denver's Optimistic Real Estate Market

January 8 2009, 11:24 AM
The Spire, a 42-story condominium and retail development being constructed near the Colorado Convention Center, moves forward at a time of "high anxiety" for those in the real estate game, notes The New York Times. Yet the development has a "curiously calming effect" as Denver, and the nation, take on a rough economy. The Spire, along with public transportation investment, aggressive economic development, and a diversifying economy, could help Denver and the region weather the worst of the storm. Home sales were up slightly in December from one year earlier, according to the Denver Business Journal, but the prices were down, on average, nearly 14 percent. Yet that's driving some optimism from buyers, who are finding the lowest mortgage rates in 55 years--even interest-free loans for federally owned homes, according to Fox 31.