Denver (KDVR) – After the Federal Reserve announced the reduction of prices last week, a new report issued by RealTor.com revealed that the Denver Metro area is among the list of markets at the country level, which can witness the greatest increase in demand for the buyer, with low rates.
The Federal Reserve reduced the main interest rate by a quarter of a point on September 17 and reduced its short -term rate to about 4.1 %, decreased from 4.3 %. This has been the first federal reserve cut since December.
In the new report issued by RealTor.com, the company said that with the decrease in mortgage rates to 6 %, you will likely see the metro worldwide – including Denver – with smaller residents and more than the mobile, the fastest reaction to demand with a decrease in borrowing costs.
A total of 81 % of the current mortgages have a 6 % or less rate, and with mortgage rates is expected to approach 6 %, more homeowners can be opened for sale and purchase again. This will be particularly shown in the high -use markets of mortgage, according to the report.
“The decrease in mortgage rates is open to the many doors for many buyers and sellers, but the place where you live determines the extent of market transformations in response to the opportunity,” said Daniel Heil, the chief economist in RealTor.com in a press statement. “In markets like Denver or Washington, the capital, where most owners still pay their real estate loans, the rates of decreased activity are likely to provoke the rates of renewable activity. At the same time, you may see the metro with the older population and the owners of more owners, such as Boufalo, New York, or Miami, a low market response, although low prices are a difference of some individuals.”
Top 10 metro with the highest share of mortgage families provided by RealTor.com is as follows:
- Washington DC – 73.6 %
- Denver – 72.9 %
- Virginia Beach, Virginia – 70.7 %
- Rally, NC – 70.7 %
- San Diego, Kali. 70.0 %
- Baltimore – 69.4 %
- Atlanta – 69.2 %
- Seattle – 69.1 %
- Portland, Oregon – 68.5 %
- Richmond, Virginia – 68.3 %
The report also presented a list of the metro with the highest share of the frank owners. This means that the areas are the least supportive of the mortgage-which indicates that their housing markets may be slower to respond to low rates.
RealTor.com said that the top 10 cords with the highest share of the frank owners include:
- Miami – 44.8 %
- Boufalo, New York – 44.2 %
- Pittsburgh – 44.2 %
- Detroit – 42.3 %
- Tampa, Florida – 42.3 %
- Houston – 42.2 %
- Tuxon, ARES – 41.9 %
- San Antonio, Texas – 41.5 %
- Birmingham, Alaa – 41.0 %
- New York City – 40.1 %
the Report results I was conducted through data from the year 2024 for a year from the action of American society, according to RealTor.com