What’s Hotter Than Hot? Colorado Hot!

A trend happening all across America, the housing market is hot and there are more Buyers than available homes. Many factors contribute to this trend, such as lower mortgage rates and lower unemployment rates – giving more individuals the opportunity to finally buy.

The housing market has had many ups and downs within the last 10 years, but in more recent years, the market has shifted to the hot bed of activity we see today. According to compiled data from Freddie Mac, the average rate of the most popular mortgage, a fixed 30-year, has remained below 4%.

The low mortgage rates give buyers an upper hand and allow for more money to be put towards the purchase price. All across America, Buyers are flocking to expert agents to start the buying process.

Colorado Springs is no stranger to a hot housing market. Experts report housing prices and appreciation values will remain above the national average through 2024, and possibly even extending through 2029.

 This demanding market creates a classic supply and demand conflict. All Buyers are experiencing a challenge to find the right home, especially under $300,000. Fortunately, with the low interest rates, Buyers have the opportunity to increase one’s purchase price to find a home or to build a new one.

Luckily, you have the Top 5 Real Estate Team, The Lana Rodriguez Group (LRG) at your side to combat this competitive market. This organization is energized with Real Estate Professionals and Veteran Business Owners, specializing in the home buying, selling, investing or leasing process for the entire Pikes Peak Region. We not only know how to find ideal homes, but most importantly create effective strategies for all types of opportunities and developments. Contact Bryan Rodriguez now to discuss your Real Estate Strategy!