Colorado Real Estate News

CEO Reflections – Are you in your Forever Home?

Written Gretchen Rosenberg, Kentwood Real Estate President and CEO

Are you in your forever home?

You may be in your first home or your move-up home, you may have been rooted in your home for many years, or you may be someone who moves a lot and loves the experience and excitement of finding that next just-right place. 2021 is predicted to be another year of record home sales and movement into and out of our homes. Are you planning to jump in?

Many people found their housing needs changed in 2020. They realized their current home didn’t mesh with their current lifestyle. If you’re working remotely, helping your children with online learning, exercising in your basement (me,) or simply spending more of your time in your own four walls, you may be realizing that your current place isn’t what you envisioned when you made the purchase. 

Perfect Timing

It’s a great time to reimagine where you’ll land next. Mortgage rates remain historically low and new construction is helping keep up with demand, even if resales have been slow to come on the market. We expect more homeowners to dip into the market this spring, but multiple bids in some segments will likely continue even with a rise in inventory.

According to CoreLogic’s Home Price Insights, national prices appreciated 7.3% year-over-year in 2020. The National Association of Realtors (NAR) also reported that inventory dropped 22% from 2019 to 2020.

This is a reflection of supply and demand at work. As inventory decreases and demand increases, prices are driven up.

If you own a home that isn’t JUST RIGHT and you’re thinking about selling, now may be the time. You’ve probably seen a good amount of equity accumulate in your home as prices have increased. Kentwood Real Estate brokers have a large number of buyers looking for their Colorado dream home. Let us help you sell and find that next perfect place to call home.

Bottom Line

If you think your current home no longer serves your lifestyle, then connect with a Kentwood broker to discuss local market conditions and determine if now is the best time for you to sell!