How is the Denver Real Estate Market doing? In a new study out by Bloomberg Businessweek, Denver has been named America's most improved market.
According to the report, "In Denver, the economy and employment slowed just as other areas did during the recession, but things appear to be moving in the right direction this year. Denver-Aurora-Broomfield metro-area home prices increased 5.8 percent in the first quarter from the same period of 2009 as sales grew and distressed sales fell.
It also notes signs of the area's reviving economy, including prospects of rising employment. "An influx of renewable energy companies and the relocation of kidney care giant DaVita's headquarters to Denver from California in 2009 are expected to create jobs," Businessweek's Venessa Wong wrote. "In fact, about one in 25 employers in the Denver-Aurora-Broomfield area plans to add jobs in the second quarter, according to the most recent Manpower Employment Outlook Survey."
More good news for the national real estate market as well. In a new study, economists report that national average home prices are about 10% below fair market value and are at their lowest level relative to replacement cost in over thirty years. This means that the bottom has hit and now more than ever is the time to take advantage, especially in an improving market like Denver.