Colorado housing market predictions for 2018
It’s that time of the year again.
When we string white lights around our houses, sit down with a cup of hot chocolate and think about the housing market predictions for the year to come.
2017 saw Colorado Springs largely outpacing the entire U.S. market with home prices increasing 7.7% compared to 6.9% at large. With realtor.com listing it 8th in the website’s top housing markets for 2018 list, that trend only looks set to continue. In this post we’ll take a look at some of the reasons why that is.
A higher construction rate has meant more opportunity for prospective homebuyers to settle here. But we may see inventory start to drop in 2018. It’s a testament to the desirability of the area that, even with that increased opportunity, competition between buyers remains fierce. A local real estate agent quoted in the realtor.com article remembered buyers sometimes offering $10,000 to $25,000 over the asking price.
FIXED MORTGAGE RATES
2017 also saw interest rates drop a bit on fixed-rate mortgages. That price drop on a little more consistency only further increased desire in the Colorado Springs market.
One of the bigger draws on the list. Colorado Springs homebuyers can live within commuting distance to Denver for 36% less of the cost. This means that all the food, art and culture of the state’s capital is within a couple hours on I-25—depending on traffic, of course.
And let’s just say there were traffic on I-25. Colorado is not the worst state to be stuck in traffic in—between Garden of the Gods and Pikes Peak in the Springs, and the Flatirons in Boulder—a look out the window affords commuters calendar picture-worthy views of the Rocky Mountains the whole way. As residents know, the city features ample hiking and outdoor activities during the summer and relative proximity to the winter sports of the mountains during the snowy season. Again, this is not news to Coloradans but, as far as buyers are concerned, the state hasn’t lost its mojo.
Industry leader Saint Aubyn Homes offers new single-family homes in Colorado Springs and Northern Colorado. If you don’t have time to wait for your dream home, you might love one of our skillfully crafted, energy-efficient homes currently available in one of our desirable communities. Our goal is to provide you with an irresistible and flawless home buying experience. For more information, please visit SaintAubynHomes.com.