Denver Ranked Best City To Buy A Home
Posted by TheHomeCart.com on Tuesday, July 14th, 2009 at 12:28am.Forbes magazine has named Denver the top city to buy a home in a study of the 25 largest U.S. metro areas. The ranking was based on three key criteria: the change in price per square foot, the frequency of real estate transactions, and how evenly home-sales activity is distributed in a metro area.
In Denver, the average price per square foot of housing space increased 5.7 percent between February and March 2009. Transactions decreased 8.4 percent between March 2008 and March 2009, which was less of a drop than many cities. Regarding distribution of activity, 25 percent of the property sales occurred within about 25 percent of the city’s zip codes.
Denver was also named America’s No. 1 city on the verge of recovery in a May 19 segment on the NBC “Today” show. Christopher Cornell, an economist at Moody’s Economy.com attributes Denver’s stability to its main industries, energy and technology, and the fact that the housing market did not grow as much as in other parts of the country over the last five years.
Other high ranking cities in Forbes’ report were Phoenix, Boston, San Diego and Los Angeles.
Our select team here with TheHomeCart.com and Cherry Creek Professionals Realty is committed to meeting all of your Colorado real estate needs. We use the latest technology and utmost degree of customer service to enhance your real estate buying and selling experience. Our team services the Denver Metro area helping buyers and sellers with homes, townhomes, condos, lofts, and investment properties. We specialize in offering relocation assistance for local, national and international buyers of homes and properties here in colorful Colorado. For more information about buying or selling your Denver area home, please contact us here at TheHomeCart.com.
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