2024 Housing Market Forecast and Predictions: Housing Affordability Finally Begins to Turnaround
Got Mortgage Rate Resentment? Here's How To Cope (and Get a Lower Rate)

 By: Dallas Heltzell | Bizwest

BOULDER — Despite accepted benchmarks that would suggest otherwise, a prominent broker is firm in his belief that for residential real estate in the Boulder Valley, “it’s a buyer’s market.”

Even so, Todd Gullette wonders what those buyers are waiting for.

Gullette, managing broker at Re/Max of Boulder, told a large audience at BizWest’s annual Boulder Valley Real Estate Summit, held Thursday at the Embassy Suites Hotel in downtown Boulder, that, “traditionally we look at whether it’s a buyer’s market based on how many months of inventory we have.”

He explained that “under five months of inventory is technically a seller’s market. I’m going to challenge that, because if we’ve been out there effectively, I think this is really a buyer’s market because we can measure the shift of negotiating power.

“Even with single-family and attached homes with somewhere between three and 3.5 months of inventory, we’re going to realize that the buyers have the power now,” Gullette said. “If we were talking to a seller right now, they wouldn’t believe that it’s a seller’s market because they’ve lost so much in negotiating power.”

Part of that has come from the Federal Reserve’s actions to stem inflation, he said.

Read the full report from Bizwest:

2024 Housing Market Forecast and Predictions: Housing Affordability Finally Begins to Turnaround
Got Mortgage Rate Resentment? Here's How To Cope (and Get a Lower Rate)