Many Front Range home shoppers can afford ground chuck, but are finding store shelves stocked with filet mignon, according to a study from Trulia. Each quarter, Trulia divides housing markets of 100 metro areas into three price tiers — starter, trade-up and premium — and then compares what people searched for online to the listings available for sale to determine a market’s “balance.”
In a recent article published by the Colorado Springs Business Journal, Cameron Moix predicts that the 2017 Colorado Springs real estate forecast is looking great. So if you’ve been thinking about buying Colorado Springs investment properties or Colorado Springs rental properties, this is your year.
Housing momentum in Colorado moves down the Front Range: The Colorado Springs housing market exploded last year
Metro Denver’s housing market has run so hot for so long, it is hard to imagine another part of the state having more momentum. But demand along the southern Front Range accelerated in a big way last year, and Denver and Boulder homeowners, flush with equity, sought vacation homes in the neighboring mountain counties, supporting those markets.
The Colorado Springs-based real estate firm Quantum Commercial Group expects 2016’s strong economic trends to continue during the new year — across both the commercial and residential markets. “We all believe that 2017 is staged for continued expansion and growth in both new and existing companies and employees for our city,” according to Quantum’s annual report, which cites population growth and a strong jobs market as two of the top predictors for the year ahead.
The number of properties falling into foreclosure last year fell to a 15-year low in the Colorado Springs area, a turnaround that real estate experts and economists have credited to a stronger economy and a rebounding single-family housing market. See more here:
Whether you’re looking for an investment or a new city with new opportunities, Trulia has compiled a list of the top 10 real estate markets poised for growth in 2017 based on five key metrics including high affordability, strong job growth, low vacancy rates, home searches on Trulia, and, because of the 2016 election’s outcome, a big population of Republicans. Did your favorite city make the cut?
David Sheffield was facedown in the middle of the road on Ute Pass. His motorcycle helmet held his head a few inches above the pavement, high enough for his peripheral vision to pick out the nurses huddled around him in blue scrubs. “What hospital do you want to go to?” one of them asked. “Penrose,” he said. For Sheffield, the next couple of weeks were a blur.
Homebuilder David Sinkey looked into his crystal ball about 30 months ago and a disturbing vision appeared. "One of the trends we saw: There won't be any new-build homes that are affordable in the future," recalled Sinkey, a principal at Louisville-based Boulder Creek Neighborhoods. The housing downturn had culled the skilled workforce needed to build homes, creating severe labor shortages and pushing up costs. Just as worrisome, finished lots that once were in oversupply were quickly being absorbed with no easy prospects to replenish them. What Sinkey didn't fully anticipate was the strong in-migration that would boost demand in the face of constricted supply and turn metro Denver into one of the tightest housing markets in the nation. John Burns Real Estate Consulting, which tracks housing markets across the country, provides the following proof of Sinkey's theory...
Increased single-family home sales and rising prices last month capped off the best performance for the Colorado Springs-area re-sale market in five years, a Pikes Peak Association of Realtors report shows.
More people bought previously occupied homes in January. But the increase was driven by rising foreclosures and all-cash purchases by investors, while the number of first-time buyers shrank. Prices sank to their lowest levels in nearly nine years, a troubling sign for the struggling housing sector.