As we head deeper into 2021, there’s one question, in particular, we keep getting asked: Are we headed for a housing crash? Today we’ll answer that question and provide a thorough recap of our 2020 Colorado Springs real estate market. Whether you should be worried about your real estate prospects in 2021 depends on what side of the transaction you fall on. If you’re a seller, 2021 may turn out to be a very good year for you. If you’re a buyer, the situation is a little dicier.
Feel free to watch the video above in its entirety to find out why or use these timestamps to skip ahead to various sections at your leisure:
0:39—The key statistics from 2020
2:22—Why we do foresee a housing crisis in 2021…for buyers
5:13—Why we’ll see more out-of-state buyers
6:52—Why, for the first time in Colorado Springs history, new homes should see bidding wars
7:30—What happens as the eviction moratoriums and mortgage forbearances end?
9:26—Interest rates, secondary dwelling additions, and a fantastic new mortgage product
11: 21—Wrapping things up
As always, if you have questions about our Colorado Springs market or are thinking of buying or selling a home soon, don’t hesitate to reach out to us. We’re happy to help.