Both the number of sales, and prices for homes in Colorado Springs, increased in April. Sales were up 4.8% over 2011, and the median price was up 4.1%. The number of homes for sale was down 26.3%, helping prices stabilize. Interest rates remain in the 4% range, making home buying a bargain almost regardless of the price. The percentage of homes disclosed as distressed continued to drop, at 15.3% it is at one of the lowest points since mid 2007.
The increase in prices and low level of inventory should make room for new construction to see somewhat of a rebound this year. Single family permits for April were up 25.7%, and while the total numbers aren’t large yet (191 vs 152 in 2011), things are definitely headed in the right direction.
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“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 4/30/12 . RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.” Copyright © 2012 REALTOR® Services Corp. Questions about this data analysis should be directed to Rick Van Wieren, RE/MAX Properties, Inc, 1740 Chapel Hills Dr, Colorado Springs, CO 80920 ph 719-590-4768 or email email@example.com
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