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As the saying goes, Superman is more powerful than a steaming locomotive (and able to leap tall buildings in a single bound)!
In real estate, supply and demand is more powerful than interest rates (and able to push price appreciation year after year)!
The fact that prices keep rising in Northern Colorado, even though interest rates are over 7%, is because of one factor- supply and demand.
Supply and demand is most easily measured by months of inventory which considers how long it would take to sell the current inventory at the current pace of sales.
Larimer County has just over two months of supply. Weld County has just under two months.
Fundamentally, while months of inventory stays below four months, prices are pretty much guaranteed to keep going up.
