Did you know, according to FHFA, prices in Larimer County have dropped more than 1% only four times in the last 40 years?
FHFA stands for the Federal Housing Finance Authority. We are one of 261 markets that they track. Since 1978 they have been measuring home price appreciation here.
If you look at the appreciation numbers for each individual year, you will notice that most years the prices go up and some years the prices go down.
But there have only been four times in those 40 years where prices decreased more than 1%.
Here is what happened those four times:
- 1982 = -3.99%
- 1987 = -1.86%
- 2008 = -2.29%
- 2010 = -1.12%
Sometimes we hear buyers say that they would like to wait for the “prices to come crashing down.” The reality is that the price drops don’t happen all that often and when they do, they don’t drop by that much at all.
If you would like to see a short video with a recap of our annual Market Forecast presentation, watch the video below.