With a new year comes new hope. Sometimes that hope is even based on fact, which is the case for the Colorado Springs real estate market. Those facts are:
- Homes sales for December were up 3.5% from last year, the 6th consecutive monthly increase.
- The inventory of unsold homes in December was down a whopping 25.5%, the lowest number of homes on the market in 10 years
- Fewer than 1 in 5 homes sold in December were indicated to be distressed (ie short sales, foreclosure, bank owned, etc)
- Sales for 2011 were up 3.3% for the entire year.
- Interest rates are now in the upper 3’s, making this one of the most affordable times in history to buy
- Prices are roughly equivalent to 2004 – again making this an insanely affordable time to buy
- Ft Carson’s large population of roughly 30,000 troops is largely home now, adding to the local economy
- New civilian jobs are being added fairly steadily, with unemployment falling
- Gas prices have fallen back below $3.00 per gallon, making some of the more rural settings in our area more affordably accessible
- The I25 widening project from Woodmen to Interquest Parkway is finally going to start, bringing a few construction jobs, but more importantly, easing the connection between Colorado Springs and it’s northern suburbs and neighborhoods, and ultimately the Denver job market.
© 2012, Rick Van Wieren Real Estate, Inc. All Rights Reserved. On republishing this post you must provide link to original post.