RICH GRIBBON

GREAT SERVICE ON YOUR SIDE

(303) 931-6979

  • Facebook - White Circle
  • LinkedIn - White Circle
  • Rich Gribbon

September Heats Up

Multiple offers are still the norm as of late September for well-priced homes, especially those at or below median prices. Based on current activity, I don't see the market slowing down as we move into Fall.

A recent survey by the National Association of Realtors showed that buyers are most concerned about the lack of available houses, not the threat of rising interest rates. Another recent survey showed that rents in Boulder and the surrounding areas are increasing at the highest rates statewide. Zillow reports the breakeven horizon (the number of years a renter must live in a home before ownership becomes a better financial proposition ) is 2.7 years in Boulder and 1.4 - 2.4 years in the surrounding areas. See the full details here.

Based on these stats and with interest rates unchanged for now, it's no wonder the market remains hot with more buyers than sellers. It's a great time to be a seller. As rents continue to rise, buyers (homeowners and investors) should likewise act sooner than later.