Rents have seen a continual rise in recent months, in fact according to msnbc.com, rents rose by 2.5% in December – a month that is typically a harder month to rent.
And vacancy rates are dropping. Its a classic supply / demand scenerio. Supply is low … demand is high, prices are on the rise.
Other factors triggering this are
* Denver is a place people are migrating to. They scored 5th in the nation for migration numbers
* The number of people who cannot buy for reasons such as low credit, foreclosure / short sale is rising
* There is possibly that people are nervous to buy, wondering what the market is going to do?
If you are position to buy, I would certainly encourage you to look into this. Rates are ridicously low!! My Buyers are finding that it is cheaper to buy than to rent.
If you need to learn more about Buying, come to a Home Buyers Seminar where you can learn the process, and if now is a good time for. Click here to register.