Home price gains are both record-setting, widespread
The pandemic put a torch to U.S. home price appreciation, resulting in gains surpassing those seen even during the headiest years of the housing bubble. And in that hot national market, Colorado stands out for how many areas are seeing double-digit gains in home values.
The state is one of eight where half or more of the ZIP codes have measured double-digit gains in the 12 months through July on the Zillow Home Value Index, according to a study from Headwaters Economics, a research firm based in Montana.
“The housing bubble pales in comparison to the price increases we are seeing now. Hopefully, it slows down,” said Megan Lawson, an economist with Headwaters who conducted the study.
If not, more households will be prevented from attaining what has long been the major source of wealth creation in the country, and the gap between those who own a home and those who don’t will only…