(Newswire.net — July 29, 2013) Denver, CO — Modern Real Estate owner and broker Ryan Jonke is citing statistics from the second quarter of this year as reported by the Colorado Association of Realtors. New Listings were up 15-percent for single-family homes and 23-percent for townhouse-condo properties. Pending/Under Contract numbers increased nearly 12-percent for single-family homes and 22-percent for townhouse-condo properties. The Median Sales price increased nearly nine-percent to 260-thousand dollars for single-family homes and nearly ten-percent to 170-thousand dollars for townhouse-condo properties. Meanwhile, the economy which generates the jobs that fuel housing demand continued to improve at a moderate pace during the second quarter. Budget sequesters and sluggish exports are taking a back seat to the housing recovery and stronger consumer spending. The impact of increasing interest rates has yet to be seen.
Modern Real Estate owner and broker Paul Kenner says now is a good time buy a home or sell. “Buyers are faced with increasing housing prices and also the possibility that interest rates may continue to rise. This means that with each passing month the cost of your new home and the cost of your mortgage will likely increase. We’re encouraging potential buyers to act sooner than later in making a real estate purchase. The good news for sellers is that they can take advantage of improving prices and limited inventory and likely enjoy a fast sale at a pretty good price.”
Kenner says his agency can help buyers and sellers get their best deal in a constantly changing market. “We urge home owners and buyers to contact one of our highly trained Realtors who can help them better understand the housing market. With values increasing so fast and also having a limited number of homes for sale, folks on both sides of the transaction should seek guidance from a seasoned Realtor. We’re doing Comparative Market Analysis on homes on a weekly basis because values and inventory are shifting so rapidly.”
Meanwhile, Jonke says the following about the housing recovery, “As potentially the brightest element in the current economic recovery, housing activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, which will help replenish neighborhoods with new listings.
Written By: Rob Armijo