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Denver Will Have Hottest Housing Market In 2016
From KDVR Fox 31 1/12/16
by Kent Erdahl
DENVER -- The housing market in the Denver metro area could become the hottest in the country this year, with some help from Aurora.
According to the latest prediction from Zillow, the Denver metro area will be No. 1 in 2016, outpacing Seattle and Dallas, which came in second and third in the prediction.
Zillow's prediction for the top 10 markets this year are: Denver; Seattle; Dallas-Fort Worth; Richmond, Va.; Boise, Idaho; Ogden, Utah; Salt Lake City; Omaha, Neb.; Sacramento, Calif.; and Portland, Ore.
The five Denver metro neighborhoods predicted to see the biggest home value growth are found in Aurora.
Delmar Parkway: 9.1 percent forecast home value growth
Highline Villages: 8.7 percent forecast home value growth
Centretech: 8.6 percent forecast home value growth
Laredo Highline and City Center North: 8.5 percent forecast home value growth
North Aurora: 8.3 percent forecast home value growth
According to Zillow, the predictions looked at home value appreciation, low unemployment rates and strong income growth.
“I think a lot of the reason these (Aurora neighborhoods) have hit the top of the list is because they were affordable,” said Sunny Banka, chair of the Aurora Association of Realtors.
Banka said it’s hard to find affordable neighborhoods anywhere in the metro area these days, which means other areas have less potential for growth.
She said the neighborhoods are also poised to jump in popularity as Aurora connects to the new commuter rail corridor connecting downtown Denver to Denver International Airport.
“That is going to make that area all very accessible and there’s a lot of jobs in that area,” Banka said, referencing the CU Medical Research Campus and the VA Medical Center, poised to open in the near future.
Aurora home buyers say they’ve already been seeing the increased competition.
Rita Affleck said she is looking to relocate from her house in south Aurora. She knows her home will have no trouble selling, but she’s been looking for the right place to buy for the past year.
“I wish I would have known a year ago what I know today because, perhaps, I would have been able to offer a little bit more,” she said. “Right now there’s only four houses on the market that are within my budget.
My name is RaNae Urso and I specialize in residential sales and buyer representation in the Denver Metro area. I have been in the real estate business over 14 years of my 30 years in Colorado. I enjo....