GRAND JUNCTION, Colo. - It seems like "For Sale" and "For Rent" signs are a common occurrence in front yards. But how is our housing market really doing? And how is it comparing nationally?
According to two recent surveys, house prices rose more than 6% this past year, and because of those hefty price tags, fewer millennials are willing to buy. But how does this affect Grand Junction specifically? It turns out, not that much.
Realtors are a common sight in Grand Junction, and driving around downtown might give you a glimpse of a "For Sale" sign in someone's front yard. But national market trends tell a different story. Home prices skyrocketed this year, leading fewer and fewer young people to buy, according to the latest "ValueInsured Modern Homebuyers Survey".
But Mesa County's market seems fine. Besides a few slow months, people are still actively buying here, Despite the nearly 6% climb in prices, local realtors say the market has been and will remain consistent.
In terms of young people buying, that same survey claims they prefer to rent, but again, Grand Junction has seen many millennials choosing to buy. The biggest issue in the local market? A shortage of houses.
Despite the raised prices, realtors and brokers still recommend locals consider the long term investments, and buy. For those interested in purchasing their own home, apparently there is no better time to buy.