Denver Home Prices Soar As Residents Flock South In Search Of Cheaper Housing

This article outlines the recent trend in housing in the front range market, and outlines how as home prices in Denver continue to increase, move residents are moving south to cities such as Colorado Springs

As the Denver real estate market continues to see large increases in demand for properties with a limited amount of inventory available on the market, home prices are exponentially trending upward, which is forcing residents to move south in search for a less-crowded, more affordable place to live. Colorado Springs is at the very top of that list, as it's only about an hour drive from the Denver metro area, and is a great place to live and work, as the taxes are low and job opportunities are on the rise, with the city creating more payroll jobs than any other city in the country for the second straight month in a row. But along with this love affair of the Colorado Springs area, and the increasing number of Denver residents that are moving there to seek refuge, comes the over-population of this area, which is now experiencing the same increase in home prices as Denver. This trend in increasing property values is also attracting professional home buyers and real estate investors such as who seek to identify distressed properties in the community, and rehabilitate them to full market value for a hefty profit.

This is causing residents to look even further south, and buy homes in areas such as Pueblo and Trinidad, which is a good 1 - 2 hour drive from the Denver area. Local real estate experts say that this trend is likely to continue throughout 2017, as we see more out of state residents move into Denver and Colorado Springs, forcing the housing prices to rise even further, and create an ever-increasing demand for homes, as the inventory is still lacking in a big way to supply this ferocious appetite of consumers. Home prices and values will likely continue to keep rising, and residents will continue to move further south in search of affordable housing. The taxes are much lower in the southern cities when compared with the Denver metro area, and while the prices are steadily rising, they're still much cheaper than purchasing in the downtown area, where homes are selling for much more than they are worth due to the high demand for housing from new residents that are flooding the state from different locations all around the entire country.

This trend in increasing property values has also attracted a lot of young entrepreneurs and real estate investors to the area, who advertise we buy houses Denver with the hopes of attracting highly motivated sellers who are looking to sell their homes quickly for cash, so that they can then renovate the properties and then list them on the market for a nice profit. With home prices increases 3% - 5% each year, it really does make sense to get into this type of business in 2016, as the market is looking to continue trending upward for at least the next ten years, most experts say. New companies are coming into this marketplace each day, and the competition is extremely fierce. We have received reports that this summer was a cut-throat period in the local real estate market, and some businesses are using underhanded tactics to achieve domination over their competitors. The real estate markets along the front range are only going to continue on this trend for at least another ten years, so it would be best to brace for the impact, as more people move into these cities, and the markets continue to expand at an exponential rate, driving demand for housing up even higher than it already is now.

Contact Info:
Name: Brian Rudderow
Email: Send Email
Organization: HBR Colorado
Address: 3023 1/2 W. Colorado Ave, Colorado Springs, CO 80904
Phone: (719) 286-0053

Release ID: 128424