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Waiting and Waiting
Anytime the market cools off we sometimes hear prospective buyers say “I think I’ll wait for the market to correct, then I’ll buy after prices come way down.”
The reality is this… History shows that this wouldn’t be a good strategy.
Our go-to source on price appreciation is the Federal Housing Finance Authority who produces a quarterly home price index. They have been tracking Larimer County for 41 years.
Their numbers show:
- Yearly prices have decreased only 6 times in history
- The average amount of that decrease is only 1.7%
So, someone who is waiting for prices to drop:
- Might be waiting a long time
- Might be disappointed that prices didn’t drop by all that much
Did You Know?
Did you know the average price appreciation over the long term, according to the Federal Housing Finance Authority (who’s been studying this for 40+ years) is…
· 5.63% per year for Metro Denver
· 5.35% per year for Larimer County
· 4.5% per year for Weld County
If you want to be totally clear on all the stats, facts and trends in Colorado real estate so that you know what the future value of your home looks like, watch this video.
This is a complimentary service for our clients and friends.
