According to Fred Crowley, Senior Economist at the College of Business and Administration at UCCS, there are several local indicators since March 2009 justifying that “the Colorado Springs economy is probably out of its recession.”

This, however, does not mean that there might not be some lag time before the Colorado Springs community sees real momentum of the economy in all business sectors.

When reviewing the Business Conditions Index, the most important measure of economic health to this Rocky Mountain region might actually be employment.  Other considerations like building permits, car sales (influenced by the Cash for Clunkers Program), taxes and consumer confidence show collective results of stability with expected months of slow recovery.  The good news is that it is not expected that El Paso County will deteriorate any lower from its current economic climate.

As this information relates to Colorado Springs Real Estate, an analysis of the El Paso County Residential Housing Market shows that the Colorado Springs Realtor can expect single family housing to be swirling at the bottom, meaning that home values are unlikely to dip any further, especially from $300,000 and under.  As I’ve mentioned on previous blogs regarding the statistical data, the Southern Colorado Economic Forum statistics collaborate the reality of the 92% sales percentage for homes sold under the $400,000 price range.

As far as new home build activity, permit activity has increased noticeably and additional gains are anticipated even during the fourth quarter of this year.

Many Colorado Springs Realtors are watching what happens during the last quarter of this year.  Since January, prices of homes sold have increased approximately 13.5 percent.  And with the recent unemployment rates dropping slightly to 9.4% nationally, let’s see if the fourth quarter can emulate the current upsurge in the market.

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