Sense Of Urgency As New Home Prices Soar

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Sense Of Urgency As New Home Prices Soar

According to Realtor Magazine, median home prices for new homes across the nation hit a record high last month, in addition to soaring home sales. Figures released from the U.S. Census Bureau reveal the median price of a new home sold in April was $271,600 – 8.3% higher than the previous month. New home sales continued to reach their second highest level since summer 2008. As buyer demand grows, new home sales and prices will continue to increase. Rick Judson, chairman of the National Association of Home Builders says, “While the cost of constructing homes is rising due to tightened supplies of materials, lots, and labor, to some extent, this may be creating greater urgency among potential buyers.”

In the Denver Metro, home prices rose by 9.9% in February and have continued to climb, according to the Denver Post. CNNMoney recently ranked Denver one of the top 5 markets to sell a home for its stability during the housing boom and bust years, reporting an 8% increase in home prices when comparing March 2013 to 2012. All the signs are creating a frenzy for buyers and little competition for sellers. Before making your next home buying or selling decision, turn to the expert leader in Colorado real estate – Fuller Sotheby’s International Realty.

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