Economic Downturn: An economic downturn leads to less disposable income, fewer job openings, and higher unemployment. On the other hand, it has been a seller's market, with more buyers than houses, resulting in prices being driven up. On the flip side, more and more people are starting to cash out on their equity by borrowing against their property. This number will increase every month as more inventory hits the market and sales times are extended. Brett: The worst crash in our recent history we massed 16% loss over 4 years. How is the Colorado Springs Real Estate Market? Housing bubble bursts for a variety of reasons. As a result, there are chances that the housing supply will remain low. All you have to do is fill up this form and schedule a consultation at your convenience. The number of mortgage applications received compared to the previous year. While home prices have increased, there has been a drop in average sales price and an increase in the inventory of active listings. Colorado Springs Real Estate; Columbia Real Estate; Columbus Real Estate; Dallas Real Estate; The typical home goes to pending in about 33 days, and the median sale-to-list price ratio is 0.994. These trends suggest that the Colorado Springs housing market may be shifting toward a more balanced market, where buyers have more options and bargaining power. Home prices fell 0.77% from June to July, the first drop in about three years.Many economists never expected home values to dip into the red. One significant factor that could impact the Colorado housing market's future is the state's economy. Taking possession of a mortgaged property when the mortgagor fails to make mortgage payments. Home prices have been steadily rising for the last two years. In El Paso County, that would mean our home prices would drop to between $392,700-$448,000. Here's the latest news about the Colorado Springs real estate market. It's a strange time to try and predict the housing market. A third of the population of the Denver metro area rents. Every month, we update this page with the most recent data from our local MLS (Pikes Peak Association of Realtors).
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