Market Update – The Cost Of Waiting For The Bottom To Hit
Are you a buyer waiting on the sidelines for the bottom to hit on real estate pricing? It’s a tough position to be in, knowing when to make the move to buy. But you don’t want to be looking back in a year thinking “That’s when I should have jumped at the opportunity.” like many buyers do – looking back on what was a great buying opportunity. While we can’t guarantee prices won’t fall more in the Breckenridge market, we can say buyers should consider focusing on the broader scope of a real estate purchase with a hard look at what’s happening in our market. Let's take a closer look at what we know in terms of real estate sales combined with what current interest rates actually mean to the bigger picture of the purchase. Here’s what we know: 1.) Breckenridge real estate in 2010 closed with an increase in sales volume, a surge in condo and townhome sales, a drop in inventory and a clear spike in 4th quarter pending real estate sales. 2.) Nationally, single family home prices have...