Is the bubble about to burst?
No! Not in the Denver Metro area, that’s for sure. Megan Aller with First American Title hosts a weekly market update to discuss all things Denver Real Estate Market. She shared the 3 economic factors required to burst a bubble:
Economic widespread hardship. COVID could have crushed Colorado’s economy, but it didn’t. We are very lucky in this regard.
Lack of equity in the market. Are you kidding? Real estate equity has risen 8-14% YOY for the last decade. If you are a property owner, you can list for sale right now and sell quickly. And if you aren’t yet, you can trust that your equity in your real estate purchase will continue to rise.
Oversupply of homes. If you’re searching for a home right now, you know there’s a major shortage. We have a 2-4 week supply of homes in the market right now. We need closer to 6 months to stabilize.
You can register for Megan’s weekly updates here.
And if you’re looking for more info, check out this amazing article from Time: “Waiting on the Housing Market to Crash? Don’t, Experts Say. Here’s How Today’s Market Is Different From the Great Recession Housing Bubble”
