Durango Colorado Homes Appreciation Is 3% Per Year For Past 10 Years

It is beneficial to look at long term results when we are confused with the short term data we receive.  The following graph shows the median price by year, with the percentage increase or decrease of appreciation by year.  This information is specifically for Durango Colorado single family in-town homes.  It is easy to see the real estate "bubble" in 2004-2006, and the low level of appreciation and depreciation in subsequent years.

The overall appreciation for the Durango homes has been 3% per year, and it is my opinion that we will begin to see steady appreciation in the next few years for the in-town homes.  This opinion is based on the significant drop in availability of homes on the market, and the continued vibrancy and desirability for living in Durango.

In the news today, it was announced that the Blackstone Group LP is the biggest investor of rental homes in the United States, and they have purchased 6,500 homes in eight markets, and they have spent more than $1 Billion in 2012!

Buyers should consider purchasing now, whether it is for their primary home or for an investment home.  I am following this same advice; I have recommended to my daughter and her husband to buy a home in 2012, and they have since purchased one.  I have given the same advice to our second oldest, and they have not yet completed a purchase.  My wife and I recently purchased a duplex in our self-directed IRA's, and we have made another offer on an investment home this week that was not accepted.