Home News Colorado’s home price declines this summer third steepest in U.S.

Colorado’s home price declines this summer third steepest in U.S.

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Home prices continued to rise in all but eight states this summer, with Colorado having one of the worst average price drops of any state since June, according to QuoteWizard analysis. It’s one.

The average Colorado home price fell to $5,665 from the end of June to the end of August, or less than 1% to $580,275. According to research, used Zillow’s home value. This represents the third largest dollar drop after California’s $12,205 drop and Utah’s $9,917 drop. Colorado has the fifth-largest price drop, behind Utah, California, Arizona and Oregon.

“Colorado home prices have gone up 40% in less than two years, so I think what we are seeing now is a small correction. I think it’s switching,” said Nick Vinzant, a senior research analyst at the insurance research site, in an email.

VinZant said he didn’t see a big drop, and even if house prices fell by 5% to 10%, they would still be well above the levels of just two years ago.

“Watching prices fall can be scary and frustrating for those who bought at the top of the market, but remember, we are not producing any more land. House prices will eventually rise again and your home is a valuable asset,” he said.

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