Last night was our annual Market Forecast event. Thank you to the 400 clients and friends who joined us at the Marriott.
Here are our predictions for where prices are going in 2018:
- Fort Collins 8%
- Loveland 7%
- Greeley 9%
Last year’s average price increases looked like this:
- Fort Collins 7%
- Loveland 8%
- Greeley 11%
Low inventory will persist in many parts of the market during 2018. But, like we mentioned last night, there are many parts of the market where the market is in balance or even over-supplied with homes. All markets are local!
Our Cheif Economist, Matthew Gardner, shared several of his insights including his prediction for interest rates one year from now which is 4.4% (about 0.5% higher than today).
For buyers thinking about waiting until the market cools off, there is a tangible cost to that wait. If prices and interest rates go up as we predict, a one-year wait would equal over $200 per month for a $400,000 home.