The news is good for potential Denver Metro residents. Recent Real Estate data and housing market trends predict that there will be a flood of lower housing prices in the market come 2019. Chief Economist of Zillow, Svenja Gudell, highlights the cause of these lower prices: “As the number of homes for sale increases and home value appreciation slows, we expect the market to meaningfully swing in favor of buyers within the next two to three years”.
This is highly apparent in Denver as housing prices are suspected to fall an estimated 30% by 2019, according to data conducted by Location, Inc. The local company out of Denver collected data from more than 200 variables in Denver, Boulder, Fort Collins and Greeley. The data was conclusive in deciding that the housing market is estimated to shift from a sellers to a buyers market.
Not only is this data relevant for Colorado, but nationwide as well. For many years sellers have dominated the market while construction has worked to catch up with the demand of housing options. This is about to shift as housing availability is expected to reach an all-time high, giving buyers the opportunity to finally command the market.