2010 Ends Well For Colorado Springs Real Estate Market

While it may be to early to call a trend, home sales in Colorado Springs improved in December 2010 over both December of 2009 as well as November 2010, reversing a recent trend, and possibly spelling relief going into 2011. Sales were up 1% over December 2009, but were up a whopping 16% over November. Prices held their own as well, up 4.4% over December 2009. Some of December’s jump can be attributed to closings that began in October and November’s low interest rates, rates that may not reappear in 2011.
The inventory of unsold homes remains stubbornly high, up 9.7% over 2009, but at the December sales rate, represents a 6.9 month supply, considered very normal by national and longer term trend standards.
For more details, including trend charts, please visit http://livingcoloradosprings.com/market-conditions/
I’ve said it before, and I’ll say it again, this is a GREAT time to buy a home in Colorado Springs!

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