Offered by Jan Hepp-Struck, Hepp Realty
Welcome to 2018! First and foremost, I want to wish everyone a prosperous and joy-filled year!
2017 has been so incredibly full of amazing blessings in my life, but also not without its challenges and sadness. I’m once again reminded that there’s no better time to bless and release the troubles, to celebrate the goodness, to hold close our loved ones and friends, and to remember with fondness those who are forever in our hearts though gone from this world. It seems I say this every year, but it’s true… I am so grateful to be blessed with such wonderful family, friends, clients, and coworkers.
So what’s on the real estate horizon for 2018… according to realtor.com®’s 2018 National Housing Forecast report, home shoppers may have it easier in 2018. Inventory constraints of for-sale homes and rising home prices may finally start to ease a bit. The National Association of Realtors (NAR) is also forecasting that home prices will slow to a 3.2% growth (national average) in 2018 as compared to 5.5% in 2017. The majority of the slowing price appreciation is expected in the higher-priced ranges as more inventory becomes available. The flip side of that is that we are likely to continue seeing price gains on entry-level homes due to a combination of a larger potential buyer pool and more limited number of homes available for sale in this price range.
Closer to home, NAR’s 2018 forecast drops the Denver metro area a few spots to rank 16th overall out of the top 100 metro areas for projected sales growth (1.75%) and price growth (6.54%). The only other Colorado metro area to make the list is Colorado Springs, coming in 8th with a projected sales growth of 3.12% and a price growth of 5.65%. Of course there is also the recent tax legislation to add into the equation, which creates a bit of a wild card situation. So only time will tell how homeowners and investors are impacted and how the market will respond.
For proven expertise in establishing your home value and/or searching for a new or existing home, please call Jan at: 303.520.4340
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