According to the Quarterly Update and Estimates put out by Fred Crowley of the Southern Colorado Economic Forum, “Improvements in MLS transactions were noticeable beyond the first time home buyer tax credits.”
Mr. Crowley gave a few reasons for this occurrence, which are consistent with some bold predictions that I’ve written on previous blogs about Colorado Springs Real Estate.
The phrase the perfect storm seems to keep popping up around the blogosphere and mirrors some of the same conditions of the Colorado Springs Real Estate market.
Regardless of the troubling storms seen by Colorado Springs Realtors, recovery is on the horizon when given low interest rates (4.5% to 5.5% generally), reduced active listing inventory (3,951 as opposed to nearly 7,000), and improved housing affordability (index: 2008 – 134 versus 2006 – 101).
It’s an encouragement for both the dedicated Colorado Springs Realtor and the consumer to see an opening of relief from the storms when these other market variables are at work and have been well documented by the Southern Economic Forum.
For more information about our local market, feel free to visit one of our Colorado Springs Realtors at www.selleygroup.com.
