Realtors predicting another great year

In a recent Denver Post article, Realtors believe that 2013 will be a continuation of the strong real estate market we saw in 2012.  The reduced inventory over the past year has contributed to a 9% increase in sales price and 18% more sales than the previous year.  The market in January has started out busy and is expected to continue throughout the spring and summer.  Some analysts don’t believe that Denver will see another year of double digits growth.  Tom Thibodeau, academic director for CU’s Leeds School of Business, said “It could happen again in 2013, but I would really be surprised. A double-digit rate of appreciation is scary to me. It’s just not sustainable. I would expect something more like 6 percent this year, which is still phenomenal.”  Companies are growing again making for good job security and there are many buyers that have been on the fence for several years.  Interest rates can’t stay this low forever and now is the time to make the move.  It will be interesting to see how this year plays out!

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