What is going on in the Northern Colorado Real Estate Market? You’ve probably heard that the NOCO Real Estate Market has shifted. The post-pandemic frenzy market has come to an end. This is actually great news for both buyers and sellers for multiple reasons. Let’s talk about the market and what this means to you.
Throughout 2021 and early 2022 the real estate market was going crazy. Interest rates were at all-time lows and everyone wanted to buy a house. This increased demand and very low inventory sent home prices sky rocketing for average annual appreciation of over 20%.
Potential home buyers were having to see houses and place offers immediately. They often times offered 10% above the asking price and waived inspections and other contingencies. BUT that is all over and we’re switching toward a buyers market.
Now that interest rates are at 15 year highs, buyers are getting spoked and deciding not to buy which is forcing home sellers into offering discounts and concessions.
Surely this all means we are headed into a real estate bubble that is about to burst. Watch the above video to see all of my opinions about this real estate bubble and how this market is different form the 2008 real estate bust.