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Denver Housing Market Slowly Moves In Favor Of Buyers

With Denver-area residents beginning to look for new homes outside of the metro, changes are coming for the housing market. A new report revealed that in 2018's fourth quarter, 24% of house hunters based in Denver were searching for homes outside of the area.

"We are going to shift into more of a buyer's market," predicted Martin Mata, a Redfin agent in Denver, according to National Mortgage News.

"Rapidly rising living costs are one reason why people look to move."

So where are most of these folks headed to? Well, according to the report, the Pacific Northwest has been largely the most popular destination. It does bring some concern for the future of Denver as a whole due to increased migration numbers.

Martin Mata, a Redfin agent in Denver worries that many of the young millennial tech workers, "the foundation of its future economy," are looking to move elsewhere to settle down.

To learn more about the new shift in Denver's housing market, click on the image above.

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