The Denver housing market suffered the same types of problems that many other large cities across the United States has suffered in the past year and a half. They had a high rate of foreclosures and are still battling with foreclosures, although the rate is finally starting to slow down. Still, even with some problems the Denver area looks like it is ready to finally move in a more positive direction.
For instance, even though home resales dropped 12% in 2009, the median price of homes overall pretty much stayed the same, slightly increasing $900. And though somewhat more expensive homes are starting to go into foreclosure, Denver is starting to see the building of newer, less costly homes, and they seem to be selling quite well.
Shea Homes recently completed its first new community in the Denver area in over four years, and is working on a second one. The completed area is called Reunion, which is north of downtown in Commerce City. The area still being worked on is Highlands Ranch, which is located south of the city. Each one has condominiums reasonably priced, and a few luxury homes added as well. Something else they’re adding to their homes, the smaller of which they’re referring to as Shea Spaces, and something that might be new among home builders, is a free 42 inch flatscreen plasma television in every home, along with electric charging stations in the garage for those people who buy electric cars.
Another home builder, KB Homes, has also started building new and smaller homes in the area. They start at around $200,000 for a home close to 1,100 square feet for two bedrooms and two bathrooms, and go up to $230,000 for just over 1,600 square feet for three bedrooms and two bathrooms. They’ve gone to a design that includes what they call a “multipurpose” room, which looks like a blend between a living room, dining room, and game room.
According to a report by Hanley Wood Market Intelligence, new homes sales are up 31% over last year at the same period in communities of at least 10 homes. A representative from Shea Homes said that business has been more brisk in the first two weeks of 2010 than it has been in the last two years. Most of the consumers are first time home buyers trying to take advantage of the tax credit before it goes away. No matter the reason, the Denver area is hoping that the signs for positive growth are just around the corner.
Mitch Mitchell is a consultant who writes and participates in many different fields, including real estate finance issues. 
Another positive sign that the housing market is starting to recover. For buyers still “waiting for the bottom”…I think you’ve missed it!
In Moraira, the property market is seeing increase in activity also. Nobody is suggesting that the Spanish Property market is easy or it is out of the woods yet but this article is good news. Every little helps!
I dont think the buyers have missed the market. There are still many areas where smart purchases can be made.