Real Estate

Colorado Springs Real Estate investors & owners - Read this NAR Report

Our Colorado Springs REALTORS want to keep you up to date with real estate trends across the USA.  Here is a synopsis of an article from the NAR concerning home sale projections in 2008.  Special thanks to Lawrence Yun, NAR senior economist for his words.

Real Estate  prices are expected to recover in 2008 with existing-home sales picking up late this year... according to the latest forecast by the National Association of Realtors^®.

Lawrence Yun, NAR senior economist, is stating,  “Buyers now have an overwhelming advantage given the wide selection of homes available in many markets,”  said Yun.  “But with profit margins coming under pressure, homebuilders will limit new construction well into 2008.  This should help the overall inventory level to move steadily into a more balanced state... Markets that sharply reduce new construction in 2007 will generally experience respectable price increases in 2008,”  Lawrence said  “Local conditions vary considerably, but with historically low mortgage interest rates this summer and sustained job gains, it could be a good time for first-time buyers with a long-term view to test the housing waters.” 

Perhaps the time is right for you to consider looking into Colorado Springs real estate?  Only you can make the decision to buy, and we certainly are not telling you what to do, but based upon early national market projections for 2008, it seems like it may be something to consider.  There are currently more than 6700 homes for sale in Colorado Springs.  This is an all time high for this area of Colorado!  Inventory is high which indicates a strong buyers market this summer. In addition, the Colorado Springs new homes market has slowed down considerably over the past year or two, so Colorado Springs market conditions seem to be adhering to the national trend mentioned by Mr. Yun. 

If you ask a Colorado Springs REALTOR, I think that most would agree that it is truly a buyers market right now and that these type of market conditions won't continue to exist for years in an area of the country that is truly this beautiful and near the top of everyone's list in terms of best relocation cities.