Colorado Market Challenging For First Time Buyers

Colorado Market Challenging For First Time Buyers


Image titleAccording to according to a recent report by Bankrate.com, Colorado ranks as one of the toughest places in the country for first-time home buyers to break into the housing market.


The report ranks all 50 states based on:

  • home prices relative to income

  • job prospects for young adults

  • market tightness

  • credit availability

  • homeownership rates among millennials


When all the data was compiled, Colorado ranked as the eighth-toughest state in the U.S. when it comes to being a first-time home buyer.

One of the biggest factors in Colorado landing where it did is the lack of inventory in the state. According to the data, Colorado has the fourth-lowest percentage of homes available for sale in the nation.

Affordability also played a role in Colorado’s overall ranking. Bankrate’s report indicated Coloradans fork over 25.7 percent of their annual income to pay for their homes, making it one of the least affordable states.


While the data might seem bleak for first-time buyers, there’s definitely hope and ways to break into homeownership. Buyer-assistance programs are available and many buyers are considering distressed housing options, which often come at a lower price tag than traditional home purchases.

If you’re a first-time buyer in the Denver metro area, give Metrowest a shout. We specialize in distressed property sales and would love to help you explore your options.


Brian Baczewski Headshot
Author:
Phone: 303-877-2680
Dated: March 6th 2017
Views: 476
About Brian: Brian Baczewski has been a student of the Colorado Front Range Real Estate market for the last decad...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Bump In Inventory Is Good News For Denver Home Buyers - In a bit of good news for home
Checking Out Cherry Creek - Known as one of the more upscale
Home Appreciation In Denver Continues To Rise - Denver homes continue to
Neighborhood Spotlight Rosedale - Tucked away between Denver's

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Metrowest Real Estate Services
1120 W. 122nd Ave., Suite 300,
Westminster, CO
720-466-7078
303-484-5054