The headline from CPR.org- "Not Even Coronavirus Could Tame Colorado's Hungry Housing Beast"- captured what homebuyers and sellers have known for some time. Good homes at the right price are snapped up quickly- this despite a challenging economy, surging unemployment, school closures, and more.
A variety of factors are at play, including limited inventory, pent-up demand, historically low interest rates, and freedom to work from home for much of the workforce. But one of the biggest factors is the underlying health of the housing and lending industries. Qualified buyers are now the norm, minimizing the risks that were present in previous downturns. For that reason, we anticipate a continued healthy housing environment in Colorado for the foreseeable future.