It was inevitable and it doesn’t take a rocket scientist to predict that home prices would be lower east of I-25 than west of I-25. By almost $100,000 to be more precise. That meant that homeowners flocked to the east to purchase a home and gave rise to double digit appreciation, more than its neighbors to the west which experienced anywhere from Loveland/Berthoud (1.4% appreciation) to Fort Collins (6.4%) and Longmont, a bit of an outlier at 11% appreciation.
Some prognosticators said that housing would suffer in Weld County because of the downturn in the gas and oil industry but prices keep rising and the sales keep happening. Sales east of I-25 were up this year, contrasting with the lower number west of I-25, reflecting the lack of inventory.
We can’t forget that interest rates are at a 10-week low so despite a bit of a slow-down in number of transactions and a dip in prices in August, our market is as strong as ever.
Waiting to buy seems a little foolish which means you need to be looking and figuring out what it is you want. Because next spring is gonna be wild!