If you have been following the real estate market across the country, you know that all real estate is “local.”  Smart real estate investors rarely pay attention to national market averages unless they are looking at mortgage rates, because the sales figures for one area can be vastly different from another.  Take for example, the recent statistics about new homes for sale in Colorado Springs.  According to the November month-end report from the Pikes Peak Association of Realtors (PPAR), home sales in Colorado Springs went up by 19 percent from the same period in 2010.

The PPAR report indicates healthy recovery is already underway in the Pikes Peak region, but this may be partially a result of sellers staying on the sidelines.  One reason for the rise in sales from last year may be due the reduction in available inventory, which is down 22.8 percent since 2010.  Some analysts may call this a “normalization” of the real estate market in Colorado Springs, given that the number of available homes is just under a six month supply, but with interest rates still hovering in the upper 3’s, January may be the perfect time to buy a home here.  A 30 year fixed rate mortgage is only 3.95 percent this week, with a 15 year fixed at 3.24 percent.   These incredible rates, plus terrific incentives for first-time homebuyers, have helped spark a surge in transactions throughout 2011, and this is expected to continue into the spring.

Increased interest in new homes for sale in Colorado Springs comes as no surprise to area realtors, who have heard predictions of an early recovery for several months.  Continued job growth and an anticipated influx of military personnel has been a major driver for the Colorado Springs real estate market, which encompasses El Paso and Teller Counties.

New homes for sale in Colorado Springs include several different neighborhoods and price ranges, from Woodland Park to Monument; Falcon to Cripple Creek.  If you are ready to make a New Year’s resolution, why not put “buying a home in Colorado Springs” at the top of your list?  A Colorado Springs realtor can help you crunch the numbers and calculate the kind of home you can afford, search the MLS listings, and take advantage of historically low mortgage rates while it is still a “buyer’s market.”

Find out more about new homes for sale in Colorado Springs by contacting a realtor at Action Team Realty.

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