Across the United States the past couple of years we have seen the housing market at an all time high. Especially in Colorado, home prices skyrocketed and we had record low interest rates making the market extremely hot for sellers. Today The Sims Home Team will talk about why we think that home market will remain high in the coming years.
In Colorado, we do not think that the housing market will crash any time soon.
The Sims Home Team has over 25 years of real estate experience in the Pikes Peak Region, here is our expert opinion on why we do not see the market crashing.
Buyers are committed to the homes they are under contract with
Sellers are holding strong to their asking price
There are still more buyers than sellers in the market currently
When priced appropriately, we are still receiving multiple offers
Interest rates are truly only affecting the lowest tiered buyers
With all these reasons why we do not see the housing market crashing in Colorado, there is still a chance that the market will slow down. Increased interest rates are making it more difficult for buyers in the lowest tier to purchase a home. We are not seeing as many offers for homes that are priced above market value, so keep that in mind when pricing your home to sell. We will keep you updated with any new information on the housing market in the coming months! As always, if you have any questions about the real estate market please reach out and we would be happy to help you.