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Colorado one of the housing markets most vulnerable to price declines across the country

With mortgage rates at 7%, both buyers and sellers forced to adjust expectations

Aldo Svaldi
The Denver Post
Model houses by Oakwood Homes in Green Valley Ranch are pictured on Tuesday, July 18, 2022.
Aaron Ontiveroz, The Denver Post

ATLANTA — Housing markets along the West Coast and across the Rocky Mountain region, including Denver, are the most vulnerable to price declines in the coming months as both sellers and buyers readjust their expectations.

“The market is clearly turning,” Lawrence Yun, chief economist with the National Association of Realtors, told journalists gathered for the National Association of Real Estate Editors conference in Atlanta on Thursday, Oct. 13.

San Jose, Calif., home prices are already down 10% from their recent peak, said Selma Hepp, an economist with CoreLogic.



That softness could spread throughout a region that benefitted from strong tech hiring and large home price gains during the pandemic and in the years leading up to it.

Yun predicts U.S. home price gains will go from double-digit increases earlier this year to flat by next year. But some areas will continue to see price gains, while others, mostly in the West, will see price declines.



Read more on DenverPost.com.


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