Colorado real estate grows even in expensive areas.
Vail inventory is shrinking and slowly improving. According to Vail Daily:
The latest news out of the local real estate market continues to show slow improvement from the depths of the real estate bust. This time the news has to do with inventory and homes under contract.
At the top of the market — 2006 — there was a small gap — fewer than 250 units — between those numbers. In the depths of the bust, that gap was a chasm more than 1,600 units deep. That divide has recently been cut roughly in half, for the best spread since 2008.
Prudential Colorado Properties broker Larry Agneberg recently e-mailed that chart to clients and others, and said there are a few reasons the valley’s available real estate inventory is starting to shrink a bit.
The number of sales has reduced available inventory, Agneberg said. Meanwhile, other people — especially in the resort markets — have tired of waiting for the market to settle out.
Read the whole story at Vail Daily.
Even thou the article only counts Vail numbers, it seems that’s the overall opinion anywhere on the state when people talk about Colorado real estate. The growth is part because of the low interest rates and low prices. Some economists believe income correlation has to do with the upper single digit growth in prices has also impacted Colorado real estate.
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