The Northern Colorado housing market continues to recover, and buyers are looking east more than ever.
That was a message delivered Thursday when experts from the Everitt Real Estate Center in the Colorado State University College of Business presented a 2014 real estate forecast at Embassy Suites in Loveland.
Drawing on research conducted by an academic team with data gathered from several sources, including individual city planning departments and industry professionals, Everitt Center Executive Director Eric Holsapple said that home prices are expected to continue to climb next year in the Fort Collins and Loveland/Berthoud markets.
According to experts from the Everitt Real Estate Center in the Colorado State University College of Business, Loveland home prices are forecasted to see more than a 10 percent increase for 2014, rising to an average of $270,000. New home closings are also strong and expected to keep growing.
The Loveland market follows a trend across Colorado, where the housing market is still in recovery mode after the recession. In terms of housing starts activity, Larimer County is at 53 percent of its 2004-2005 peak and is recovering faster than any other county in the Front Range, according to John Covert, who is the regional director of the national home construction tracking company Metrostudy.