Economist Silverstein forecasts...
Economist Silverstein forecasts a modest 2 percent increase in home prices and 9.5 percent gain in sales this year. Bauer predicts home prices will increase 1 to 2 percent, with home sales rising 3 to 4 percent in 2011. "This is going to be a nice, positive year," he said.
Market Data
Denver metro area
Population (2010) 2,543,482
Population growth (2000-10) 16.7%
Total closed sales (2010) 38,818
% change closed sales (2009-10) -7.7%
% change closed sales (May 2010-May 2011) -14.5%
Sales rate per person (per total population, 2010) 1 sale per 66 people
Median sales price (May 2011) $230,000
% change median sales price (May 2010-May 2011) No change
Foreclosure filings rate (May 2011) 1 in 475 units
% of sales distressed (2010) 30%
% homes affordable to median-income
households (Q1 2011)
75.2%
% unemployment (April 2011,
not seasonally adjusted) 8.3%
Walk Score 54
Rent vs. buy ratio (Q1 2011)
13
Sources: U.S. Bureau of Labor Statistics, Metrolist Inc., Denver Board of Realtors, Trulia, RealtyTrac, Walk Score, National Association of Home Builders/Wells Fargo, U.S. Census Bureau.
