Jan 2023 Newsletter Vol. 01

2022 was a wild year across the Front Range and all over Colorado. We began the year deep in a sellers market, with with a large pool of buyers due to record low interest rates and drastically increasing property values. As the year has progressed, we have seen the federal interest rates almost double. Thus resulting in the market slowing homes going from 3 days to being under contract to now about 3 weeks for the median home. The CO market is still forecasting to remain a strong market and to continue it's noticeable run equity increase over the past several years.

We saw the federal interest rates increase 4% in 2022. This had significant impact on home affordability, a home price that may have been within budget in January may not have affordable by October. Fortunately rate increases are forecasted to slow and potentially start to decrease come 2024!

Rate increases and the national economy have caused many buyers to question if now is the right time to purchase a home. From my experience I can tell you, now is the perfect time if equipped with the right information and someone who is willing to work with you to leverage the market to your benefit!