We are at a strange juncture in the market. The statistics show that sales continue to be strong and that the inventory of available listings is at an all time low. Now with the devastating fires in our community, the questions about the market going forward just got more complicated.
- How will the loss of nearly 1,000 homes in Louisville, East Boulder and Superior affect our market going forward?
- Will the news of the fires stem the flow of new residents to our area?
- Given the high cost of construction, will all of the homes that were lost be able to be rebuilt with insurance proceeds?
- Currently there is a huge demand for rental homes. Will the market be able to absorb that demand in a reasonable way?
So many questions and we have a full year ahead of us. It’s really too early to tell what affect the first will have but there will most certainly be immediate demand for rental housing. Some owners who have displaced will be able to purchase right away and go through the long process of recovery in a new home. But those will be the great minority.
Instead of dwelling on what seems to be a very difficult spot many find themselves in, I am looking for and celebrating each bit of good news as families are finding rentals, as help is received, as insurance claims are processed and as our community circles around those who need us most right now.
Click through the slide deck below to see an annotated presentation on the latest real estate statistics for Boulder County.
