There is no question that the Real Estate market in 2012 has begun a recovery. Certainly in this current Denver market, inventory continues to remain low, and with the number of Buyers looking to take advantage of the low interest rates, we have seen homes selling for near listing price – if not above.
So whilst the market is forecasting slow and modest increases, others are saying that the rebound may be much stronger?
In 2007, housing prices fell by more than 1/3, but they could be back to peak levels as soon as 2015, according to a report by Barclays Capital. They are also predicting that house prices will rise by 5 – 7.5% over the next year.
Home construction is anticipate to rise by over 20% or more during the next year. The new-home market could return to its pre-bubble average of about 1.5 million new homes a year by 2016, CNNMoney reports. That would double the construction level expected this year.