Jan
26
2022
Fort Collins Prices See 17.4% Jump in 2021; Higher Interest Could Quell Demand
Despite the historic jump in prices seen in 2021, the dizzying pace at which homes are selling for over the asking price with multiple offers in a short time frame could lessen if the interest rates go up.
“An uptick is probably good for the market to quell rampant appreciation,” said CAR spokesperson Chris Hardy. “But for some folks it will mean they’re not going to be able to buy.” Higher interest rates can generally mean less buying power. “Days to offer may increase and sellers will be reluctant to drop their prices,” said Hardy.
“Many sellers will forget the way their neighbor got a high price was driven by competitive offers, not necessarily the organic appreciation of value.”