As of this morning, April 14, there were 5,069 single family and patio homes for sale. That number has been climbing, and it looks like April will see the first year to year increase in the inventory if homes for sale in Colorado Springs since this recession began.
Part of the increase is because we have a little rush of sellers trying to take advantage of a demand spike related to the First Time Home Buyers Tax Credit, scheduled to expire on April 30. Part of the increase is the normal ‘spring rush’ of signs we get when the grass starts to turn green. Homes show better in the spring, many job transfers occur in the spring, and people get a little spring fever to move as well. Locally we have some great deals on homes in the upper price ranges, and for the first time in a while, we are seeing more move up traffic. In Colorado Springs, military orders also play a role in our housing market, with many active duty personnel receiving their orders for their next assignment right about now.
In a way it is a sign of returning normalcy. With over 1700 homes pending sale, we need some to take their place. Thankfully, only 10.2% of the homes for sale appear to be bank owned or short sales, also indication of health.
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