The market isn’t shifting, it shifted and it has happened faster than we all expected. What I want to make sure everyone understands is that it didn’t shift to a crash or to the 2008 market that we all have PTSD from. It shifted to a normal market. Remember what normal is? I think we have all forgotten normal after the craziness of the last two years. A normal or balanced market is when we see an increase in inventory yet remain with significant buyer demand. Yes, the rising interest rates are making it more expensive in an already expensive market but there are still plenty of solutions and opportunities for success.

Something to consider: will interest rates rise faster than the value of the property? Home price appreciation is still expected to rise another 7.8% in Gunnison County in the next year. One of my favorite lenders put it this way: “A $700,000 home today would cost $755,100 in 12 months. The difference in interest paid over 12 months between a 4.5% to 5.875% interest rate is $8,660. So is $8,660 worth $55,000 in equity? If a buyer can pull it off with out financial strain, I would still advise them to buy.”

I would absolutely love to hear your thoughts and answer any questions you have about today’s real estate market. Give me a call today!

NEW LISTING COMING SOON! 426 Elk Avenue – 2022 Cover Home for Peak Magazine – This incredible property is hitting the market next week. I can not wait to show you the fabulous transformation. I have represented this property in two previous transactions and it holds a very special place in my heart. You are going to love it! Call me today for the details!

Home Price Deceleration Doesn’t Mean Home Price Depreciation