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For several years now, Denver’s real estate market has been all clouds with few silver linings. At 5280 every May, we run our annual real estate guide, and since 2008, the vast majority of our articles have focused on the broken housing market and how to navigate it.
That’s why we’re delighted to report that in 2013, local real estate may finally have emerged from its long drought. This year’s package of stories—written by Chris Outcalt and hitting newsstands later this week—shows how Denver housing has climbed almost all the way back from its pre-crash levels.
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There is one big caveat: Metro area inventory currently is flirting with near-record lows owing to overly cautious sellers who don’t realize that the value of their home has probably recovered, if not appreciated past what they paid for it. If inventory remains scant, bidding wars ensue, and the long-term danger of an overpriced housing bubble reappears.
That’s why we’re recommending that sellers and would-be sellers take a closer look at getting back into the market. Not only are they likely to sell quickly, but our record-low interest rates mean they’ll likely be able to afford an even nicer house than the one they’re leaving.
In addition, Outcalt unveils Denver’s hottest residential neighborhoods and solicits advice from local real estate pros about what buyers, sellers, and even renters should be aware of as the real estate recovery unfolds. So grab a copy of our May issue and see why living in Denver has rarely been better.
—Image courtesy of Shutterstock.
—Follow 5280 articles editor Luc Hatlestad on Twitter at @LucHatlestad.