Charles Ward

Whether or rent or buy really depends on a lot more factors outside of the amount of inventory in the market. For instance ability to purchase now vs. stricter lending guidelines in the future. Interest rates now vs. where they might be in the future. Your own personal situation such as the time frame you plan on staying in the area and the home along with job stability are also important factors. I would point out that current (Dec) Denver Market Area inventory levels are quite a bit lower then in both Dec of 2006 & 2007, by approximately 4500 total units or roughly 20%. In addition the absorption rate (time it takes to sell current inventory at current rate of sale) is lower as well down from around 33 weeks to 26. It is actually a seller's market in much of the metro area on homes priced below $200k so the price point at which you buy can also be important in deciding to purchase now or in the future. Within every market there are many sub markets I think the prudent thing to do is find an agent who specializes in the market and price you think you will want to purchase in and get the facts on what's happening with inventory levels and prices to determine if you really might be better off waiting. - Mon Jan 12 2009, 15:51