Last year, the Colorado real estate market experienced a trend roller coaster with considerable fluctuations in interest rates, house inventory, and overall market housing needs. 2022 ended with a market slowdown which left many people frozen with uncertainty. But instead of getting bogged down with all the real estate market headlines, let’s use that knowledge to our advantage and put our best foot forward to fulfill our real estate needs.
When you read a headline like “Colorado Housing Inventory Is Up 224%,” it wouldn’t be uncommon to think that the Colorado housing market has turned a corner and is now a buyers’ market. But context is everything, and the reason there was a dramatic percentage increase is that the original housing inventory was significantly low. In actuality, a 224% increase from a low number is still considered low. Therefore, Colorado is still a sellers’ market, but there is more wiggle room for price negotiations than there was in the recent past.
So what does it all mean?
Home Buyers Don’t Give Up! As more housing inventory goes up, house prices will settle, allowing you to find and qualify for the home of your dreams.
Home Sellers Get Ready For Selling Season! Spring is approaching fast. Ensure that you have the right pricing strategy for your home in this changing market and that your home is in optimal condition for selling.