Is a home in Denver Affordable?

The Denver Single Family Housing Affordability Index is a great tool to understand our housing market from a historical perspective. 

This index combines the regional household income trends with interest rates and local housing prices to calculate the proportion of local households that can afford the median priced house. From a buyer’s perspective, the higher the index the more affordable homes are, the lower the index the less affordable homes are.

Here’s how movements in the three variables affect the Index:

• Interest rates - if interest rates rise, the Index falls
• Home prices - if home prices rise, the Index falls
• Average income - if the average income rises, the Index rises

Quick Market Update!

The following chart was published last week by YCRE.  Overall, 

• Average sold prices continue to increase 
• Average DOM continue to decrease
• The amount of inventory is slowly increasing

Current Rental Information

The following information was provided by Apartment Association for Metro Denver.  

The trends for vacancy and rent continue to be in the landlord's favor.