Is Now a Good Time to Buy in Colorado? What New Home Buyers Need to Know
Colorado is a unique place when it comes to the housing market. Several factors are to be considered when making a buying decision if you want to come out on top. Knowing when to buy can be confusing for new home buyers, so it’s important to understand the housing market here in Colorado.
The Housing Market Is Strong
Chances are, we’re not going to be seeing the lows of the 2009/2010 housing crash. However, consider this: real estate prices have continuously appreciated year on year since then. Many are calling this a sellers’ market. However, that does not mean that now isn’t a good time to buy in Colorado.
There are many growing cities to buy a new home in up-and-coming areas in Colorado that are a great place to buy a home right now. Some of these include Brighton, Aurora, Greeley, Fort Collins, and Colorado Springs. So truly, it all depends on where you’re looking to buy.
Timing Is Everything
The cold is the defining characteristic when it comes to Colorado. Most people that want to buy also want to settle down by late fall, and most definitely before winter sets in. In fact, very little is listed for sale during the winter. That makes June, July, and August the critical months, when your home buying process needs to wind down completely.
Avoid the Rush & Avoid Pricing Wars
Typical buyer and seller behavior is to list immediately after the spring break when the snow starts to melt. That is when activity is expected to take off and indeed many buyers rush into the market as well. Valuations are high for March, April, and May. If you can wait through these months you will be able to put pressure back on the sellers keeping inventory for longer. In other words, you are more likely to get a better deal in the fall.
Securing Your Financing
When you’re ready to buy your dream home, our expert loan officers at Mortgage Solutions Financial can help you find our perfect financing. Whether it is an FHA loan, a VA loan, or a conventional loan, our staff can help you find the best solution for your family today.