Waiting to buy your next home in hopes that the Denver real estate market will fizzle, leaving you with a discounted price tag? Though 2018 saw a slight shift away from the extreme seller's market of the past several years, Denver remains a strong seller's market. This means that sellers maintain more powers than buyers, creating a market where home prices continue to climb. More importantly, experts believe that home prices will continue to rise well into the year 2020 and beyond (albeit at a slower rate than the breakneck speed we've experienced in recent history).
By making several conservative projections of home prices and loan interest rates, you can see that waiting to buy could be quite costly
Take a glance at the table above to see that you can expect to pay $30,000 more on the average Denver home for every year you wait. Moreover, your monthly payment is likely to increase by about $300.
Though holding off on your next home purchase may seem appealing, the cost of waiting is (historically) significantly high. If you wait, your buying power could be greatly reduced. Instead, consider exploring the market today.
For pinpointed real estate statistics on your neighborhood, visit our interactive Denver neighborhood index.
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