Quote:
Originally Posted by Rain Man
Yeah, houses have been selling over the asking price in Denver for years. I guess supply just can't catch up with demand, and low interest rates are ramping demand up even higher.
I did a housing study for a city here in Colorado a while back, and we started tracing back what was causing the big increases. To our surprise, we're still feeling impacts from the Great Recession. Construction shut down for a while and population growth didn't. For states with positive in-migrant flows from other areas, it's created a wave of home demand (buying and renting) that keeps getting bigger, and losing basically two years of construction in the 2009/2010 time frame was a big deal that's still reverberating through the market today.
|
Ft Collins had that issue for a while and Colorado Springs is dealing with it now. I remember reading not too long ago about how the area is suffering a housing shortage as there are just not enough houses on the market and they can't seem to build them fast enough.