Castle Rock CO Housing Bubble? Experts Say NO!

Castle Rock CO Housing Bubble? Experts Say NO!

Many people are drawn to Castle Rock’s small town feel with it’s downtown area offering coffee shops, restaurants, the Barn, ice skating rink, and spas. Additionally, Castle Rock offers excellent shopping, parks and trails, award winning Douglas County schools and the Castle Rock Adventist Hospital.  Buyer demand remains strong while inventory of homes for sale is low.

Today I want to discuss if there is a Castle Rock CO Housing Bubble? Experts Say NO!

With residential home prices continuing to appreciate at levels above historic norms, some people are asking if we are heading toward another housing bubble (and subsequent burst) like the one we experienced in 2006-2008.

Recently, 5 housing experts gave their opinions:

Rick Sharga, Executive VP at Ten-X:

“We’re definitely not in a bubble…We have a handful of markets that are frothy and probably have hit an affordability wall of sorts but…while prices nominally have surpassed the 2006 peak, we’re not talking about 2006 dollars.”

Christopher Thornberg, Partner at Beacon Economics:

“There is no direct or indirect sign of any kind of bubble…Steady as she goes. Prices continue to rise. Sales roughly flat…Overall this market is in an almost boring place.”

Bill McBride, Calculated Risk:

“I wouldn’t call house prices a bubble…So prices may be a little overvalued, but there is little speculation and I don’t expect house prices to decline nationally like during the bust.”

David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices:

“Housing is not repeating the bubble period of 2000-2006…price increases vary unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging.”

Bing Bai & Edward Golding, Urban Institute:

“We are not in a bubble and nowhere near the situation preceding the 2008 housing crisis…Despite recent increases, house prices remain affordable by historical standards, suggesting that home prices are tracking a broader economic expansion.”

Real Estate Bottom Line

According to these experts, the residential real estate market is not experiencing a bubble.  Trulia reports that it is still cheaper to buy than rent.  If you are thinking of buying or selling your Castle Rock home, let’s sit down and discuss your situation to determine the best plan for you!

Source: KCM Marcy Ruberto Blog

It’s important to have a knowledgeable agent on your side who is an expert in the local real estate market.  You want someone who will protect your interests and ensure you make the best possible decision – for YOU.  I know buying and selling homes in Castle Rock- I have lived and worked here for 25+ years!

I am happy to provide you with the most updated strategic information when buying or selling your home in Castle Rock, Colorado.

To reach me, please call 303-638-6536 or email marcy@premierdenverhouses.com

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Thinking of Selling Your Home? Let Marcy sell your home with her 10 Proven Strategies. Call or text 303-638-6536 for more information.