Colorado Springs has been mentioned several times lately as one of the best places to buy a home in the recovering housing market, but with housing numbers looking a little less promising than expected, some are starting to doubt the market’s long-term viability.  As a Colorado Springs realtor, I am often asked for my opinion on the real estate market for 2011, and how Colorado Springs will fare this spring and summer.  Of course, any opinion I share here is speculation, but having spent many years in this industry, I feel qualified to make an educated guess. 

According to AOL Real Estate (March 31, 2011), Colorado Springs currently has 150,894 households, and homes have depreciated by 4.7 percent over the past year.  As of the most recent report, there were over 4,300 homes for sale in Colorado Springs, and the trend lines were showing an increase in activity from May 2010 until the present.  Last June (2010), Builder Online included Colorado Springs as number 14 on their list of the 20 healthiest housing markets for 2010, and since that time CNN Money included Colorado Springs in their list of “Best Recovery Bets” by forecasting a modest gain in real estate prices by early 2012.  Another article published by Action Team Realty (Will the Spring Thaw Improve Outlook for Selling a Colorado Springs Home?) gives yet another outlook on spring and summer selling season. 

The real estate market for 2011 in Colorado Springs was affected this year by the lack of a Federal New Homebuyers Tax Credit.  If anyone ever doubted the impact that this part of the stimulus had on the economy, it is rarely spoken about now.  When the 2009 federal tax credit was extended into April 2010, it caused a flurry of activity during the normally dormant months of January through March.  The result for 2011 is a “perceived double dip” in the housing market, which I suspect is nothing more than a poor year-over-year comparison. 

Find out more about the real estate market for 2011 in Colorado Springs and how you can get in on it.  Speak with the professional realtors at Action Team Realty today.