Delta County Summer Market Report — A Balanced Market Biding Its Time

By BOB LARIO RE/MAX Mountain West, Paonia Office

To say the market is difficult to analyze would be an understatement. National media reports are conflicting and confusing: “Home Sales Down,” “New Listings Down,” “Home Prices Rebounding,” “Home Prices Softening,” “Buyers Waiting for Market Crash.” It’s no wonder that buyers and sellers are uncertain and fearful. Even real estate agents, many of whom now work from home and obtain their market information from the same media sources as their clients, are confused.

Fortunately, the market is not crashing and will not crash. Unlike what we saw during the recessionary period of 2006 to 2011 when many homeowners were “under water” with loan balances higher than their home values, current nationwide statistics show that 39% of homeowners have no mortgages and another 29% have equity in their homes of 50% or more.