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What to Expect From the Shift in the Housing Market

The housing market is always in flux. Whether you’re buying or selling, it’s crucial to be aware of the latest trends. The Federal Reserve recently slashed interest rates once again, and buyers are enjoying the lowest rates in three years. However, many potential buyers are wary of purchasing a home in this uncertain economic climate. In most areas, the once white-hot housing market is softening a bit as buyers choose to bide their time. Here’s what to expect from the shift in the national housing market, and a look at how Boulder County is faring.

Signs of a Recession Loom 

In August 2019, we experienced an inverted yield curve for the first time since the Great Recession in 2007. Although the yield curve bounced back, an inversion has historically signaled the start of a recession before each began. The stock market continues to be volatile, so despite the appeal of low interest rates, the housing market is notably cooler than it was just months ago. 

Home Prices Remain High 

Although home prices vary widely by location, there’s no question that housing prices are at an all-time high. While inventory is beginning to grow and the market appears favorable for buying, experts hypothesize that steep prices are contributing to potential buyers’ reluctance to seal the deal. Home prices have risen 5.9% from the previous year, making the jump to homeownership more daunting for first-timers. In many cases, those who already own homes prefer to refinance rather than take on a larger mortgage. 

How’s Boulder County’s Market? 

Boulder County is a highly desirable place to live, and our market reflects this. While homes are sitting vacant in other cities, Boulder’s market continues to tick along at a steady pace. Boulder County’s median single-family home prices decreased by just 1% from last year’s average, creating an equally favorable environment for both buying and selling. Single-family homes remain the top-selling type of property, with houses staying on the market an average of 45 days. Townhome and condo listings have surged in Boulder County (up approximately 30.8%), but these properties are experiencing more days on the market. 

If you’re hoping to buy or sell in Boulder, it’s a great time to start shopping or list your home. Interest rates are the lowest they’ve been in years, and our housing market is holding steady. Even in Boulder County’s reliable real estate market, an experienced realtor is a must. When you’re ready to list or find your dream home, I’m happy to help you navigate Boulder’s one-of-a-kind ecosystem. To start the process, please reach out to my team. 

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