The unimaginable could happen soon.
for all eleven counties that make up the metro are,a but still shy of $1 million. Denver County's median price for the same period was $810,949, compared to $680,000 for the greater Denver area.
Leprino attributes these developments to an interest-rate hike that month, as well as media coverage of spiking prices."Did the buyers panic and stop buying? Did the extra cost on a mortgage knock many would-be buyers out of the game?" he asks."The answer is probably yes to both." Up until last month, Leprino concedes,"Denver was in the fast lane to a $1 million average. We’re still likely to hit that mark, but there has been a large and very noticeable course change on that path. Inventory is creeping back into the picture. Prices, though still up, are less up."
Even so, few American cities present more challenges to first-time homebuyers than Denver. Click to see the
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