The Winner Is…
With the Olympics stoking the spirit of competition, we took at look at how Colorado stacks up against the other states when it comes to real estate prices.
Our impartial judge for the competition is the Federal Housing Finance Authority who tracks close to 300 real estate markets all over the country.
For this competition we are looking at home price appreciation over the last five years. Simply, how much have prices gone up for each state?
And the winner is… (not Colorado)
The winner is Nevada with a 68% increase in the last five years.
Here's the top 5:
1. Nevada 68%
2. Arizona 57%
3. California 54%
4. Florida 53%
5. Colorado 48%
Here's the deal about this list- other than Colorado, these are all the states that were hit hardest by the real estate downturn in 2008 & 2009. These states are still clawing their way out of the hole that was created. While Colorado continues to show a more steady pattern without the wild swings seen in other places.
Just for fun, contact us at firstname.lastname@example.org with your guess for the worst-performing state in the last 5 years. We will enter your name in a drawing for a $100 Gift Certificate to Jax Restaurant. You don't need to be right to win, you just need to guess!
In our upcoming September issue of the Windermere Report, we look at state-by-state performance over the last 25 years. We will give you a hint- Colorado did better than 5th place!