BOULDER, Colo., Sept. 30, 2016 /PRNewswire/ -- Recently 8z Real Estate released graphs depicting the five-year average home appreciation for single family homes throughout various Colorado cities. 8z Real Estate Marketing Manager Sandee Cirian explains, "Many homeowners are not aware that their home's value is 'through the roof.' They know that real estate has picked up since the recession, but are unaware just how much."
At the onset of 2016, Lane Hornung, CEO of 8z Real Estate, predicted, "We expect to see appreciation rates exceed 10% through the first half of the year before settling back down to the 6% to 8% range by the end of 2016."
Upon analyzing recent reports, Hornung has found that home values are performing just as predicted or better. According to the most recent Federal Housing Finance Agency data, of the 20 cities in the entire US with the highest annual appreciation rates, four are located in Colorado: Denver metro, Fort Collins, Greeley, and Boulder. All have seen one-year appreciation in excess of 10%. Overall, Colorado has a one-year appreciation rate of 8.9%.
5 Year Residential Appreciation by City
However, there are signs of these appreciation rates moderating a bit in the second half of 2016 and settling back down to a 6% to 8% range. Hornung went on to explain that, "Moderation in appreciation rates does not mean prices will start falling; they just won't be rising at such a torrid pace. This is a healthy market adjustment and will begin to alleviate growing concerns that a lack of affordability could weaken the overall market."
About 8z Real Estate:
8z Real Estate is a residential brokerage that empowers buyers and sellers with unmatched market data and online tools, combined with the knowledge and expertise of professionals on the ground. Each Realtor specializes in a specific community, to develop expertise on everything local. 8z puts clients first with Realtors who listen to their clients' needs, address their concerns, and deliver solutions so that each client has clarity, control and confidence in their real estate transaction.
SOURCE 8z Real Estate