In a recent Denver Post article, experts are expecting 2014 to be a more balanced market than 2013. Last year had an incredible “gold rush” mentality with low interest rates and even lower inventory levels. Buyer’s got very aggressive and in turn many sellers got lucky. According to statistic from Metrolist, “the number of transactions closed jumped 26.3 percent, and the median price of a home sold was up 10 percent.” This year the inventory level is even lower than it was in January of 2013 but experts believe the higher home prices and interest rates will keep a more level market with estimated growth of 6% or 7%. Foreclosures were down over 60% from 2013 which is a great sign in any market. This article has a lot of interesting information about the current market and expectations for 2014. Click here to read the article.
Market Finding Balance in 2014
January 23, 2014 by Leave a Comment