Despite being one of the healthiest local economies in the country, there are more homes for sale in Colorado Springs, CO than many people expected, especially this late in the summer.  Pair this with a drop in sales over last year, and one can see why a Colorado Springs home seller might get concerned.  It is true that the inventory of homes for sale in Colorado Springs has increased by 16.9% year over year, but there are several reasons for this.

Many summer sellers jumped into the market early when they learned that the federal home buyers’ tax credit was extended until April 30, 2010.  While this worked out well for some of them, many were not prepared for such a competitive market and priced their homes too high for a quick sale.

Another reason why so many Colorado Springs homes are still unsold is the lag in military relocations to the Pikes Peak region.   With one of the largest military deployments in recent history looming on the horizon, there are far fewer service men and women headed into the region’s five military bases.  Add to this the fact that the number of available homes for sale in Colorado Springs always goes up during the summer months anyway, and you can see how we got to this point.

There is still quite a bit of good news to report in the Colorado Springs real estate market, however.  For example the “price to list” ratio is still holding at 97.6%, indicating confidence in the housing market’s recovery.  For home buyers looking to take advantage of these market conditions, there are several ways to buy a Colorado Springs home without a big down payment.  Low mortgage rates are also holding steady, and home buyers can still take advantage of assistance from the CHFA (Colorado Housing and Finance Authority).  CHFA offers assistance with down payments and closing costs, as well as special programs for first-time homebuyers.

With this in mind, the waning weeks of summer are an ideal time to start looking at homes for sale in Colorado Springs, CO. Instead of searching on your own, why not enlist the help of a buyers’ agent from Action Team Realty.  The experienced brokers at Action Team will always keep your best interest in mind, and because they know the area so well, they can provide you with valuable insight about which Colorado Springs neighborhoods are the best fit for your needs.