On InsideRealEstateNews this week, Dan Polimino swears that the seller's market in Colorado is over.
Polimino says:
I am ready to proclaim that the seller’s market is over. Gone are the days of multiple offers, homes selling in a few hours at over the asking price. Get ready for business being back to normal.
We believe that based on two strong economic factors:
- The rate of new home builds was ramping up faster than expected and as such, home builders would soon pump more and more inventory into the marketplace, giving buyers more choices. This would level out prices and builders would begin to take a larger market share.
- It was not realistic to think that Denver could sustain a 10 percent annual growth year after year. We believe that the market would not pass a 6 percent gain in appreciation this year and it looks like that is what it’s going to shape up to be.
