Here are the six reasons why the Fort Collins market is recession-proof.
With interest rates expected to rise and news of an impending recession making headlines, many of my clients are on the fence about their buying or selling plans. However, is there a cause for concern? Historically, home prices in the Fort Collins real estate market have trended upward even during recessions. You can see a graph at 0:24 in the video to support this claim. Here are the reasons why our local market is recession-proof:
1. We have a diverse economy. We have many businesses in different industries such as tech, medical, oil, gas, agriculture, etc., which means the population has different sources of income.
2. Solid household financials. Our population generally has great educations and career paths with solid incomes and strong financials.
“We’ve been voted multiple times as a top place to live in the country.”
3. Equity in homes. People in our area have a lot of equity in their homes. In case of a recession, we would have the option to sell or pull lines of credit.
4. Strong rental market. If you can’t pay your mortgage or have to move, you can rent out your home and wait for the prices to stabilize, so you can sell when you need to.
5. Relatively affordable. People from all over the country choose to move to Fort Collins because it’s a relatively affordable option.
6. Top place to live. We’ve been voted multiple times as a top place to live in the country.
Buying or selling a home in the Fort Collins real estate market is still an excellent investment. If you need more details about our local market or have any questions about your real estate plans, reach out to me by giving me a call or sending an email. I look forward to hearing from you!