Here’s How Much Less Your Colorado Real Estate Dollar is Worth Today
Homeownership is becoming harder and harder for so many Coloradans. The common phrase is "it's so expensive to live here." I personally believe any place that has so much beauty, variety, and access to cool stuff, is expensive. If you don't enjoy experiencing the many incredible things Colorado has to offer, then yes, it is an expensive place to just live in a house.
Hope your kids like sharing a room because it turns out the amount of square footage your money can buy is dwindling in the Colorado housing market. The amount of space your money will buy is much less than it was just one year ago. Point 2 Homes found that buyers in Colorado Springs take the top spot for loss with 774 square feet. This equals around 5 bedrooms of space lost. Ouch!
Housing prices have come down some in the last year. However, the price of even the most average of houses is still enough to make you spit out your coffee. It also doesn't help that mortgage rates are so much higher than they were for the last several years. Bankrate reported "as of Wednesday, December 7, 2022, current rates in Colorado are 6.65% for a 30-year fixed and 6.02% for a 15-year fixed."
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