In early January, a blog was posted on this website that asked “How Will the Colorado Springs Housing Market do in 2011?” Now that we’re halfway through the year, now is a good time to take a look at how we’re doing so far, especially considering the recent economic news and continued housing slump.  Were we overly optimistic when we said the Colorado Springs housing market for 2011 would be better off than most other cities in the nation? The article did say “the Pikes Peak real estate picture looks a lot better than most” but when most others are predicting a continual slide in home prices, that promise may not mean as much to you.

Despite the rough economic news and the reluctance of many to enter the housing market, Colorado Springs is still relatively stable compared to other cities.  While certainly not immune to foreclosures and a longer sales cycle, the “Springs” has a few things going for it that other cities don’t have.  One of these is a very strong military presence.  Even in tough economic times, a steady influx of service members and their families keeps demand in many neighborhoods higher than the national average.  Need another reason to thank our troops?  Whether they’re coming to the region for Fort Carson, the Air Force Academy, Peterson or Shriever AFBs or to work at NORAD, the Colorado Springs housing market is much better in 2011 because of them. 

A vibrant technology sector and excellent “quality of life” scores add to the allure of Colorado Springs, plus the media has favored Colorado Springs in several of its recent real estate stories.  Recent mentions in Outside magazine and inclusion in CNN’s “Best Recovery Bets” have drawn a lot of attention to the area from homebuyers looking to invest.   But it doesn’t take a magazine article or a real estate license to see why the Colorado Springs housing market in 2011 is better than most.  Just one look at the idyllic surroundings, beautiful neighborhoods and jaw-dropping mountain vistas, and it is easy to picture yourself living happily ever after in the ‘Springs.

The best way to accurately gauge the success of the Colorado Springs housing market in 2011 will be to see how much of the currently “active inventory” is sold over the summer.  Going up against the sales figures from 2010’s new homebuyer’s tax credit has skewed the numbers a bit for this year.   As a result, it may be difficult to get an accurate read on the market’s resilience before the sales figures for June and July become available. 

Learn more about your best options for investing in the Colorado Springs housing market in 2011. Contact an experienced local realtor from Action Team Realty.