Will 2021 mark the end of Denver real estate’s run?

Will 2021 mark the end of Denver real estate’s run?

Looking for a quick digest of what’s happening in real estate right now? We’ve got you covered:

National News

+ Colorado placed in the top 10 states people moved to during 2020, as ranked by U-Haul’s report of 1-way moves.

+ Pros predict that some of the next renovation trends will include a move away from open-concept living, a focus on outdoor space, and a rise in ADUs.

+ Whether you’re buying, selling, or staying put, Dave Ramsey offers his take on how the housing market will shake out in 2021.

Local News

+ 56% of economists think the Denver housing market will outperform the national average this year, hoisting our city to one of the top five hottest markets for 2021.

+ Some local economists believe the Denver housing market is running out of gas. They said, “while new home sales should match the pace of 2020, existing-home sales this year will fall and price increases in the months ahead will be more subdued.”

+ Our opinion? 2021 is likely going to be a fast-paced, appreciating market on all fronts.

+ Denver is the third hottest market for millennial homebuyers, ranking behind only San Jose and Boston. A whopping 59% of all Denver-area homebuyers in 2020 were from Gen Y.

Financial News

+ Freddie Mac forecasts moderate house price growth of 0.7-1.3% in 2021-2022 with mortgage rates expected to average around 2.9% until year-end.

+ The difference between second homes and investment properties is important when it comes to financing. Sarah Kuta of Realtor.com explains why it matters and how to keep yourself aboveboard.

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