By Kaitlin Krug-Byrd
It’s no surprise that housing prices have been appreciating with significant velocity, especially in the past couple of years. However, there seems to be a few recurring questions that buyers and owners are still asking:
1. Is the Growth Sustainable?
Experts say, yes! Although we saw sharp appreciation reaching the double digits in some locations last year, the growth rate seems to be naturally curbing off. According to a survey by Pulsenomics, over a hundred experts predict an average of 4.4% appreciation in home prices in 2014, and will slow to 3.4% by 2016, which is comparable with the historical average of 3.6%. The predicted steady growth is good news for the U.S. housing market.
2. Is Now a Good Time to Buy?
Although it’s a seller’s market right now, it’s still as good a time as any to buy. Since home prices are expected to have mild-to-moderate appreciation in the next few years, buying a house would be a wise investment. Also, since inventory is relatively low at present, getting your hands on a home can work to your benefit. Spring is generally a busy season in the housing market, and there might be more homes for you to see right now; however, it might also mean more competition, so be prepared to put your best foot forward!
3. How’s Boulder Doing?
Boulder’s future is looking strong. Foreclosure rates are low and dropping. The University of Colorado is expanding, the job market is strong, the housing market is consistently improving, and the demand for the Boulder lifestyle remains high. There’s a plethora of young and innovative individuals, opportunities for expansion, and nothing compares to those gorgeous flatirons! Whether you’re looking for a small home in the middle of the excitement or a private home on the outskirts of town, everything seems to be working in the best interest of the Boulder community. Boulder is definitely a perfect location for a home investment, and it’s the place to be right now for almost any type of person or family.