Still “hot” by comparison
To those of us active in real estate in the last several years, the market in Colorado has definitely cooled. However, we are still in the Top 10 hottest housing markets in the country. Colorado Springs sits at #4, while Denver sits at #9. Nothing radical going on here, but values are still rising at a moderate level, which means stability. Midland, TX, on the other hand, jumped from #18 to #5 in one month. Now that is hot!
It’s all about perspective
Not many Denver natives would consider $1150/month rent for a 570 square foot apartment to be a steal, but people from New York City think it is. In NYC, it would cost $2700/month for the same square footage. Yikes! New Yorkers are moving to Denver, Seattle, and Los Angeles to save money. If you wonder how housing prices could get any higher, just remember that people from New York (and other East coast cities) see our market as affordable.
QUOTE OF THE WEEK:
“Style is the perfection of a point of view.”
See you soon,
Read the full newsletter here: 2018.01.26 – Friday Flyer