Housing Market Predicted to Shift from Seller to Buyers Market
According to Real Estate data and nationwide housing trends, there is expected to be a surge of lower prices in the housing market come 2019. This is partially due to the availability of housing options, as construction has been at an all-time high. Svenja Gudell, chief economist of Zillow notes this shift: “As the number of homes for sale increases and home value appreciation slows, we expect the market to meaningfully swing in favor of buyers within the next two to three years”.
Not only is this scope nationwide, but more specifically housing prices in the Denver Metro area are predicted to fall an estimated 30%. Real Estate data company out of Denver, Location, Inc., used more than 200 variable to predict trends in Denver, Boulder, Greeley and Fort Collins.
For those currently living or interested in living in the Denver Metro area, this news is long overdue as the market has been notoriously unsustainable for buyers. Zillow chief economist, as well as numerous other experts, support this judgment predicting that the market will shift from being a sellers market to a buyers market over the next couple of years.