Grace + Sky | DENVER HOMES’ VALUE INCREASE WAS 9TH-HIGHEST IN 2016 IN US
16895
post-template-default,single,single-post,postid-16895,single-format-standard,ajax_fade,page_not_loaded,,qode-title-hidden,footer_responsive_adv,qode-theme-ver-11.0,qode-theme-bridge,wpb-js-composer js-comp-ver-5.1.1,vc_responsive

DENVER HOMES’ VALUE INCREASE WAS 9TH-HIGHEST IN 2016 IN US

The Denver business journal posted a great article about the ever steady increasing home values in Denver. The article states that Denver’s homes appreciated 9.3% to reach a new median price of $356,900. Other cities that beat Denver with even FASTER growing rates include:

  • Nashville, Tennessee (12.4%)
  • Portland, Oregon (12.1%)
  • Tampa, Florida (10.8%)
  • Dallas-Fort Worth, Texas (11.2%)
  • Orlando, Florida (10.8%)
  • Seattle, Washington (10.2%)
  • Detroit, Michigan (10.0%)
  • Las Vegas, Nevada (9.8%)

The West appears to be slowing down in home appreciation growth, as markets like San Jose and San Francisco are becoming very expensive places to live. Slowdowns in the Bay Area, in particular, are driven by the fact that these markets are so expensive that many people can no longer realistically afford to buy there, limiting demand and reducing pressure on home values,” said Svenja Gudell, Zillow chief economist, in a statement, adding that he expects “a nationwide slowdown in 2017 as some headwinds begin blowing in, including increasing mortgage rates and worsening affordability.”

Across the nation, home values appreciated 7.2 percent to a median value of $195,300, according to Zillow.