Real Estate Market Change
Change is always coming our way. Boulder is somewhat immune to national real estate trends. Locally we may see some affect as economists, and national real estate pros suggest we’re facing change. This, they speculate, is driven partly by rising prices and rising interest rates in the next couple years.
In a Bloomberg Businessweek article, “The rate of home sales, new and existing, has probably peaked,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics. “But it’s not going to roll over. It will gently decline.” More evidence of change.
Change as assessed by a pro: Lawrence Yun, Chief Economist at the National Association of Realtors chimed in suggesting that in many parts of the country “Affordability is becoming a major headache for homebuyers.” In places like Alabama, Louisiana, Wyoming, and regions of New Mexico you are seeing home sales rising as long as there are local jobs.
By contrast, it seems fewer people are buying in places like California, where costs are simply too high for most folks looking to buy.
Boulder County and the City of Boulder especially seems to be more tough on first time home buyers as we’ve seen this trend for several years now. Also, in this general area, the competition is still fierce in the entry-level price ranges as we have multiple buyers for virtually every home on the market for sale.
Thinking about buying a new home, or getting ready to sell? Call me today!
Zachary Epps, GRI®, ABR®, MCNE®, CLHMS®, SRES®,REALTOR®,
RE/MAX Hall of Fame, RE/MAX Platinum Club
I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.
Also, I’m never too busy for your referrals. As a real estate professional intent on giving back to the community, my relationship-based approach is exactly what you’ve been looking for in a helpful RE/MAX Professional.