Home prices in the metro Denver area are also on the rise due to the low inventory, and are projected to rise even higher, so now is the time to buy before being priced out of the market.
Denver, CO (PRWEB) April 11, 2016
According to the March 2, 2016, Denver Real Estate Watch article, rents are up 6.2 percent in Colorado. Furthermore, rent growth in Colorado and the Denver area far outpaced the national average in February 2016. “Demand for rental apartments will likely remain strong if current homeownership rates remain where they are or improve only slightly,” said Nickolas Terry of RE/MAX Leaders, who has been ranked as a 5280 Magazine 5-Star Broker for four years.
However, this spike in rents makes owning a home a better bargain than filling the coffers of landlords, and current renters who plan on remaining in the metro Denver area should consider buying a home. Terry further suggests strategizing now to buy a home in order to take advantage of near-historic low interest rates before they rise again.
“Furthermore, home prices in the metro Denver area are also on the rise due to the low inventory, and are projected to rise even higher, so now is the time to buy before being priced out of the market,” said Terry. “Additionally, when you buy as opposed to rent, you receive tax benefits that go along with homeownership.”
About Nickolas Terry, RE/MAX Leaders
The RE/MAX story began in Denver in 1973 with a single office. Now it is a global real estate network of franchisee owned and operated offices with more than 100,000 sales associates. Nickolas Terry’s office is located at 6855 S. Havana Street, Suite 150, Centennial, CO 80112. For more information, please call (303) 667-4800, visit his website at http://www.NickolasTerry.com, or follow him on Facebook.
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