We’ve know for a while that super high demand for housing on Colorado’s Front Range will eventually cause a problem for limited water resources. In early 2022, the town of Severance, Colorado placed a moratorium on new build constructions due to the inability to add more homes to the water treatment system. Severance has stopped all new building permits as of January 2022 until the water issues can be resolved.
CBS4 News Story:
With limited supply of homes in Northern Colorado, more people are moving their home search to North Weld County. People who work in Fort Collins, Loveland or Greeley are searching for affordable housing in Severance, Ault or Eaton. The old saying, “Drive until you can afford it” is as true as ever as more and more homes are being built in Severance, CO. The town of Severance has had multiple new construction neighborhoods pop up in recent years and that has led to this issue.
Town of Severance New Build Moratorium Notice: Here.
Stopping new home construction in Weld County is going to put another wrinkle in an already difficult real estate market. Nationally, home buyers are seeing a rise in home prices and all-time low housing inventory. If we can’t keep building homes in Northern Colorado, the costs of avilable homes will rise even faster and affordability of homes in the area will deteriorate.
The news of a Severance Colorado House Building Moratorium is an evolving story that we will have to keep an eye on. The mayor of Severance has made many public announcements about how they are working on it and how this home building stoppage is costing the city as well as contractors, painters, landscapers, builders and developers a lot of money.
If you want to discuss what this means for your ability to buy a home in Severance, CO reach out to me through my Realtor Contact Form.