2022, market-trends, colorado, national, pagosa-springs
We’ve been scouting around real estate research, and seeing what kind of trends are expected with the 2022 real estate market. Looking specifically at Colorado, and also National totals, it looks like some change is on the horizon.
Colorado real estate has been pretty hot, and going on several years at this rate now. Over the last couple of years, we’ve reached a peak in home-sales, that has more or less, stalled out at the moment. Housing inventory currently remains low across the state. Though, we have seen these numbers climb since a very low trough of inventory in the spring of ’21.
graphic courtesy: zillow
State records from Zillow, shows a steady climb in Colorado home prices since the website group began keeping records in 2013. Note the sharp jump in average home prices across the centennial state last fall. With a current typical home value of more than $528k, we’ve undergone a more than 22% increase in home prices in one year.
graphic courtesy: zillow
While Colorado remains as one of the top ten state real estate markets across the country, there are some national trends that might come into play during 2022.
Over 2022, some analysts foresee U.S. real estate trends settling back into some form of “normal.” There are various contributing factors here. Extended moratoriums in foreclosures and evictions have to come to an end, and mortgage rates are likely to rise somewhat as the fed tries to balance out the skyrocketing inflation we are experiencing.
As such, factors that are likely to impact the market this year include rising mortgage rates, increased foreclosures, and a slow down in the quick increase of prices we have seen. Some of this will lead to a greater inventory of homes on the market.
Colorado’s real estate market won’t lose its appeal anytime soon. With some of the best opportunities for outdoor recreation, incredible views and natural beauty that the world has to offer, we’re proud to call Colorado home! For Pagosa Springs, and other southwest Colorado real estate insight, Pagosa Brokers Real Estate is here for you.
More reading on 2022 trends:
2022 What to expect in the Colorado real estate market
For local market knowledge:
Give us a call! 970-264-3800 Or, send a secure message thru our website to Briana, Norma, or Jon!
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