Denver Post: Homes in Short Supply Across Colorado
A combination of historically low interest rates coupled with homebuyers’ desire for more space and ability to work remote in the age of COVID have resulted in an unprecedented market in every corner of Colorado.
“2020 will go down as the most unpredictable year many of us have ever experienced,” said Colorado Springs-area REALTOR® Patrick Muldoon.
Fort Collins REALTOR® Chris Hardy said, “Record numbers of transactions were completed for the year with effectively nine-and-a-half months to sell them. Brokers, lenders, appraisers, inspectors, title insurers, contractors all made up for slowed times of March, April and May by doing more business in 2020 than 2019.”
“The shaking of the economic tree has not shaken real estate yet. But its roots are beginning to lose grip as the rest of the U.S. industries show staggering losses. There are only so many months in front of us where the news will continue to be like this for housing if the other news in all other sectors is poor,” Muldoon added.