Denver: 7th Best for Home Sellers!
by Rob Swanson
You might read into the title of the April 8, 2008 article by the Rocky Mountain News as a great sign for real estate investors. I think you'd be right.
The article references the recent Forbes Magazine study of the top 40 largest metro areas in the country.
Think about it. When real estate investors buy, renovate and SELL, we become HOME SELLERS.
It's good to be in the company of the best, isn't it?
Check out the article below:
Forbes: Denver 7th-best for home seller
Rocky Mountain News
Originally published 11:23 a.m., April 8, 2008
Denver is the seventh-best city in which to sell a home, according to Forbes magazine’s study of 40 large metro areas.
“Overbuilding and a high foreclosure rate stymie Denver’s housing market, which last year saw a 6.3 percent drop in prices,” Forbes.com said.
“Still, area homes are selling, and the vacancy rate, while still at a pro-buyer 3 percent, last year shrunk by 20 percent. The 49 percent drop in construction starts, the 12th-largest cut in the country; and 2 percent rise in new jobs, the ninth-highest rate in the country; are good news for sellers.”
The report ranked each city by its 2007 unsold vacancy rate, calculated by the U.S. Census American Housing Survey, and how much the market had tightened or loosened when compared with 2006 conditions.
It also took into account construction starts, job creation, and the degree to which new conforming loan limits from Freddie Mac and Fannie Mae would improve each market's lending conditions.
San Jose, Calif., topped the list as the best city for home sellers. It was followed, in order, by: San Francisco; Salt Lake City; Austin, Texas; Kansas City, Mo.; San Antonio, Texas; Denver; Providence, R.I.; Charlotte, N.C.; and Seattle.
