2013 Real Estate Market Recap

2013 turned out to be a better real estate market than most of the pundits predicted.  Our market saw a record 42,762 homes sold in the Denver metro area.  Interest rates were at or below 4% for most of the year.  And the pent up demand from the past 5 recession years, certainly took advantage of great home values.

 For 2014,  most of the real estate forecasters are predicting another positive year.  I believe we will continue to see low interest rates, at least for the first half of  the year.  Our average sales prices have been increasing, but homes prices are still slightly below the historical highs. Builders are furiously trying to catch up on demand, but a lack of skilled workers are restricting their efforts.  Job growth in the Denver metro area is strong, and as we know, Colorado is still a great place to live.  Migration to our state will continue to increase.