Colorado Springs Real Estate ExpertsNews 5 contacted us as an Expert to discuss the recent trends in the local real estate market.  I met with them and was excited to share that the market has really improved over the last 6-8 months.  Housing inventory is down by 26% in the Pikes Peak Region from this time last year.  Current inventory has been cut in half from 7,056 to 3,383 from the worst market days in 2007.  This along with an increase in sales and average price of sold homes make for the perfect storm.  We are now in a market where we are beginning to see multiple offers due to the lack of inventory.  Home sellers are getting closer to their asking price and selling quicker.  Interest rates remain a huge benefit for buyers and sellers alike.

Buying a home? - Now is a great time to buy with the historically low interest rates and bottomed out prices.  Interest rates especially!  Interest rates will continue to remain the most important factor on home affordability moving forward.

Selling a home? - Many sellers have been waiting until the right time to sell.  Now may be the time to enter the market with the lack of competition and home affordability from historically low interest rates.