Realtors Predict House Prices Will Plummet in These 8 Popular Mountain Towns

You may be looking at mountain towns for your next move for several reasons.

Maybe you’re attracted to the beauty of these communities and the outdoor recreational activities they offer throughout the year — or perhaps you want to build wealth by investing in a vacation property. Whatever your reasons, it may be good to know that some of these towns have been seeing market shifts and price drops. Some of it’s tied to the pandemic, but other factors are also at play.

Here’s a look at some already popular mountain towns where you may be able to find deals as housing prices look to drop.

If you're considering moving to Colorado, you want to check out Colorado Springs. It’s seen dropping housing prices in the past two years, and more may come with increased inventory. Colorado Springs also has low property taxes and a good climate. You can enjoy the city or vacation in the mountains.

If you’re looking to move to a mountain town in Colorado, now may be the time. Home prices have been falling amid slowdowns in sales. One place you may want to look is Crested Butte. This mountain paradise is a good fit for families and singles looking to enjoy nature and escape from busy city life.

“While detailed forecasts for Crested Butte are less available, trends across Colorado’s ski towns paint a clear picture: Prices for single-family homes are on the decline,” said Andrew Reichek, a real estate expert with BodeBuilders. “Increasing inventory and longer market times are strong signals that this cooling trend may continue to push prices lower in the near future.”

You may also want to look at life and housing options in Breckenridge. Again, like many other Colorado mountain towns, this one has been seeing some dropping housing prices. The trend may continue due to slower sales and more available inventory. You can enjoy all four seasons in this town, not just the skiing. You can take part in cultural events and enjoy the culinary options.

You have so many options for adventures when you live in Steamboat Springs. You will, of course, find national forest and wilderness locations, but you can also enjoy state parks, skiing areas, and more than 150 natural springs, lakes, trail systems, and rivers. You may also see housing prices continue to fall because of slower sales, more inventory, and overall concerns about the economy in America.

You might not expect to see Vail on this list. It’s known for having some pretty high housing prices. But those prices have been falling and may continue with other Colorado mountain towns. Many buyers moved into mountain towns during the pandemic, but the demand has slowed. Vail has a reputation as one of the best ski locations in the country, and it has even earned some worldwide recognition.

A few mountain towns in Utah are good places to look for housing markets with expected declining prices. You may only need to consider the breathtaking landscape to feel the urge to move to Midway, Utah. You can enjoy skiing and biking. This area is known for its charming and welcoming communities, along with all kinds of outdoor opportunities. This small town has been gaining interest amid much higher prices in nearby Park City.

If you want the beauty of Utah but don’t want to pay the Park City prices, check out Heber City. Again, this is a location in the West where housing prices are expected to continue to decline. People moved to mountain towns in big numbers during the pandemic, driving up prices, but things have changed in the past couple of years.

You may know Big Bear’s reputation as an excellent location and mountain town. This Southern California town has some of the best outdoor activities in this part of America. It’s already considered one of the most affordable mountain towns in the country, so dropping housing prices will only make it easier on your budget.

“Another often-overlooked factor is the increasing cost of living in these areas, which has driven out many of the local buyers who would traditionally stabilize the market,” said Shirley Mueller, a real estate and mortgage expert. “Communities like Big Bear and Breckenridge rely heavily on tourism and seasonal workforces. With inflation and high interest rates, many locals can no longer afford homes, while investors hesitate to purchase in markets where rental income is uncertain due to changing travel habits.”

Some popular mountain towns in America may be good options for buying a house or investing in property, especially among predicted price drops due to market changes.

A move to buy property in one of these towns may be a strategy for you to try to withstand economic downturns. Regarding strategies, you may want to look at the housing markets near some of the bigger and famous mountain towns you’re considering. They may hold better housing values, and you can get in before they start filling up.