In a recent post, I shared that as of October 1, 2017, Colorado Springs has less than a 2-month supply of homes (a trend we’ve seen all year). Some sources are stating that negative homeowner equity is a reason the inventory of homes for sale is so low. While that is a valid reason and may be the case for some, it is not true for the majority of homeowners.
I wanted to share this article that explains this further, and shares national statistics to support its claim. I’m happy to see that in Colorado, 89.6% of homeowners have “significant equity”, meaning that the home has over 20% equity. That is very encouraging – and also not a credible reason why our inventory is so low.
Click here to read the article: The Truth About Homeowner Equity
If you have questions about your home’s equity, or want to discuss if now is a good time for you to sell (or buy!), I can help. Call or text me at 719-331-7675, or email firstname.lastname@example.org and let’s talk!