Denver Housing Prices Varied

I just returned from Washington where there were definately a lot of bankruptcy and foreclosure problems in general. It is interesting that in the Denver metro area home prices were down by 1 percent in the last few months, but small house prices and sales were up. Homes under 1,000 square feet were up by 14 percent, but larger houses around 3,000 square feet were down by the same amount! One of the factors for this might be the reality check that some people who might even be able to stretch their budget to purchase a larger house may have had during this big housing melt-down. It used to be that a lot of people thought of their home as an investment, and they believed the larger the home, the better the investment. As an aside if you want Washington Bankruptcy lawyers
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I like the Now they may question the wisdom of buying more house than they can heat, cool, repair, clean, pay taxes on, etc. Now, some of these folks may be thinking it more attractive to own a house that is just the right size for their needs, and no larger. Highest-end home sales have nearly disappeared. One developer said that some of his former million dollar homes are now selling for $600,000.

Also, smaller houses did really get beat up in the slide, so it would make sense that they are rebounding now that we may be seeing a bottom in the market. Hopefully, some folks who have been diligently waiting and preparing to buy a home when they became more affordable may now be able to break into the market.