Construction costs, residents needing more space and investors impacting housing prices

What’s happening in Colorado and in many places throughout the country is a tale as old as time.

“Homebuyers just went nuts,” said Dr. Eric Holt, an assistant professor at the Burns School of Real Estate and Construction in the Daniel’s College of Business at the University of Denver.

“Realtors are saying, ‘Give me your best offer.

Period.

End of story,'” said Lori Abbey with The Abbey Collection at Compass Realty.