Homes, especially lower-priced homes, are a hot commodity in the Denver area, which has forced their prices up. The military-dependent economy of the Colorado Springs, Colo., area makes a more stable, if precarious, market, say in-the-know real estate professionals in the two markets who shared their insights with Inman News. Because of rising rental prices, decades-low rental vacancies, and many residents in the first-time homebuyer bracket and a low inventory overall, Denver is experiencing an incredibly high demand for homes in the sub-$250,000 price range, said Stacie Staub, a Denver-area real estate agent with Live Urban Real Estate, in a Q-and-A with Inman News. Demand has pushed prices up in this category by 10 percent on a year-over-year basis, and led to very low inventory and t...
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