Forbes: Denver is America’s Best City To Buy A Home
It's Nice That The Stats Confirm What We Already Know
Forbes magazine ranked Denver, Colorado as the best place to buy a home. Contrary to other locations that are still experiencing significant decline, Denver is doing much better. Their report not only includes the immediate real estate conditions but also considered long-term criteria as well.
Forbes magazine just published a report on the 25 largest cities in the U.S. which analyzed the best place for consumers to buy a home. Their #1 pick: Denver.
Reasons why Denver tops the list include:
- Positive change in price per square foot
- The frequency of real-estate transactions
- Widespread home-sales activity throughout a metro area
Quoting Forbes magazine Bizjournal.com reports,
“Denver tops the list,” Forbes said. “It had 25 percent of its property sales occur within approximately 25 percent of the city’s ZIP codes. This means sales in various parts of the city were fairly evenly distributed, showing proportionate activity. The further a city deviates from the 25 percent mark, the less evenly distributed the market is in that city, and thus the lower that city ranks.”
Forbes also determined that average price per square foot of housing space increased 5.7 percent in Denver between February and March of this year, and that transactions decreased 8.4 percent between March 2008 and March 2009, less of a drop than many cities.
“Denver scores very well in terms of being able to bring people into a stable housing market,” the magazine quoted Moody’s economist Christopher Cornell as saying. “It has better growth potential than most cities today.”
You can read the entire article here
