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Will 'hot' Denver housing market cool down?

Posted: 10:15 PM, Mar 11, 2016
Updated: 2016-03-12 05:15:24Z
Will 'hot' Denver housing market cool down?
Will 'hot' Denver housing market cool down?
This year, Zillow named Denver the "hottest" housing market in the entire country.  
 
But if you're trying to buy a home, living in a "hot" market may not seem like such a great thing. Denver is seeing record low real estate inventory, leading to bidding wars that further drive up prices.  
 
But according to a senior economist with Zillow, this year could bring us back to "sanity."  

"Our forecast for the Denver metro is just under 5 percent for the next year, down from 15 percent from the year before", says Zillow's Skylar Olsen.
 
She said while Denver dwellers may feel like they're being squeezed, it's nothing compared to San Francisco, where people can expect to pay 40 percent of their income on a mortgage.

In Denver, it's about 21 percent.

New construction will help bring prices back down. Denver needs more single family homes that first time buyers can afford.  

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