GREATER METROPOLITAN DENVER MARKET UPDATE WHAT IS HAPPENING IN THE MARKET?

FEBRUARY, 2013 At January month end, the largest block of homes available for sale was in the price range of $200,000 to $299,999 for Single Family and $100,000 to $199,999 for Condo. For Single Family homes closed in January, 27% were in the price range of $100,000 to $199,999, 33% were in the price range of $200,000 to $299,999, and 17% were in the price range of $300,000 to $499,999. For Condo homes closed in January, 73% were in the price range of $0 to $199,999, and 25% were in the price range of $200,000 to $499,999. The top three forms of financing for Single Family homes closed in January were Conventional, FHA, and Cash. For Condo, the top three forms of financing were Conventional, Cash, and FHA. Consumer confidence decreased in January to 58.6 down from 66.7 in December erasing all gains made through 2012. The short term outlook is down as consumers are pessimistic about the economic outlook and their personal financial situation. Mortgage interest rates are on an upward tick. Be prepared is the word of advice for Buyers. With rising prices, buyers continue to have to adjust their sights on prospective properties and be prepared for a possible bidding war. Rent continues to increase as new rental housing units will become available soon and home affordability has never been higher. New home builders are now an alternate in the Denver housing market. Home ownership rate now stands at 65.5% for the nation which is an increase for the year. All indications for 2013 point to a strong transitional year. The above representation may or may not reflect all real estate activity in the market. 2012 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed