The National Pundits have speculated that recent home sales have risen due to the $8,000 tax credit for first-time home buyers who are purchasing in the lower-priced housing sectors of the United States. Of course, these real estate opinions cover the national perspective only. And from experience, Colorado Springs Realtors also have their insightful views about the local market as well.
It is important to understand speculations regarding the local versus the national real estate market. While similar trends might exist between both markets, this certainly does not mean that similarities exactly mirror each other.
For instance, when computing the number of listings on the Colorado Springs Real Estate market as of June 23, 2009, the figure shows 5,224. This number represents the slow erosion of listings on the current market, meaning there is an indication of real estate stabilization in Colorado Springs as well as the surrounding areas. From the beginning of the year, the number of closed transactions is 3,512. When comparing this value to the number of listing inventory, 67.23% is the tally. Personally, I'm not really sure what this number should be relative to sold transactions versus existing inventory.
But I do know this... There is less than a year of inventory on the market, which is much different than some national averages. On the other hand, as one analyses the higher-end home values of the Colorado Springs Real Estate market, the number of sales versus existing inventory shows greater percentage disparities, affirming the reality that buyers and investors are making more purchases at lower price ranges, something similar to the national trend.
Overall, I do not believe in comparing national to local real estate market statistics. The figures become skewed when making any reasonable analysis. When commenting about the Colorado Springs Real Estate market, I can affirm that activity exists, though the rhythm of consumption erratically changes during different seasons of the year. I've noticed some odd findings within my own practice, kind of like the unusual weather patterns that we've experienced this spring and summer.
Regardless, the Selley Group is well-prepared to offer topnotch service whether come rain or shine...