Here’s something I haven’t worried about in awhile; too few homes to show buyers!
Colorado is seeing a net gain of 31,000 new residents last year, according to the Census Bureau. Lower inventories of homes for sale and the lack of building means that we are looking a shortage square in the face. Here’s the breakdown; 8,854 single family homes currently on the market, compared to 13,714 the same time last year. That is over 35% fewer homes for sale. With that, coupled with the inflow of new Coloradans, we have ourselves the ingredients for a steamy batch of Shortage! Shortages in supply create a fierce marketplace. This fierceness could turn into bidding wars and ultimately, price increases. So, is it a good time to sell? Could be the best time to sell since 2008!