Colorado Housing Forecast for 2022

Published:
June 19, 2019
Last updated:
January 3, 2022
In This Article

The Colorado real estate market is very healthy right now, and prices are expected to pick up over the course of 2022. Certain markets, in particular, are very hot right now, including Denver and Colorado Springs, due largely because of shrinking inventory. Mortgage rates continue to be extremely low in Colorado right now as well. And considering how prices are anticipated to increase even higher in 2022, now might be the perfect time to get into the housing market in CO before prices really start to take off and to take advantage of low interest rates.

housing market forecast colorado 2022

Property Values Soared

Average home values in Colorado increased by 22.1% over the past year.

Home Prices Up

Colorado’s average home currently sits at $528,211, according to Zillow.

Housing Inventory Shrinking

The supply of available homes for sale is decreasing across Colorado. There is currently only a 1.5-month supply of homes on the market to meet buyer demand.

Number of Homes Sold Increased

The number of homes sold in Colorado rose 2.2% year-over-year.

30-Year Fixed-Rate Mortgage Rate Remains Low

According to Freddie Mac, current mortgage rates in Colorado are currently 3.12% for a 30-year fixed-rate mortgage, 2.34% for a 15-year fixed-rate mortgage, and 2.45% for a 5/1 adjustable-rate mortgage (ARM).

Number of Homes Sold in Denver Dipped

The number of homes sold in Denver dipped by 3.7% year-over-year.

Denver – CO’s Hottest Market

Denver was one of the hottest markets in CO in 2021 and is expected to continue sizzling into 2022. According to Zillow, home prices increased to $580,678.

Colorado Springs Market Hot in 2022

Colorado Springs is also expected to have a hot real estate market in 2022. According to Zillow, home prices in Colorado Springs are $451,498.

Heating Up in Boulder

Boulder saw a 19.9% increase in home price this year, which now sit at $988.116.

Fort Collins – A Hotspot For Buyers and Sellers

Fort Collins is expected to be one of the top hotspots across the country for buyers and sellers over the next couple of years. This is based on the fact that the population has increased by 17% recently, according to the National Association of Realtors Research Group (NAR). Zillow predicts prices will increase by 19.9% over the next year.

Live Colorado Mortgage Rates

Need a Home Loan in Colorado?

If you have questions about home loans in Colorado, we’re happy to help. Sammamish Mortgage is a mortgage firm local to Bellevue, Washington, serving the entire state, as well as Oregon, Idaho, and Colorado since 1992. Our experts will walk you through our mortgage programs to see which one is best suited for you. Contact us today with any questions you have about home loans in Colorado.

Get an Instant Mortgage Rate Quote Today

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