The scuttlebutt around the blogosphere about the housing industry is somewhat varied, but many Realtors throughout the nation are reporting some slowdown in business. Needless to say, one of the larger brand Colorado Springs Real Estate companies is experiencing around 45% less showing activity since the April Tax Credit deadline.
On May 14th, some factual data has been released by The Mortgage Bankers Association about purchase applications. According to Michael Fratantoni, MBA’s Vice President of Research and Economics, “Purchase applications plummeted 27% the first week of May and have declined almost 20 percent over the past month, despite relatively low interest rates.”
Keep in mind these figures consider national projections and do not single out any particular sector of the real estate markets. Relative to our local market, while showings are down, I’m still seeing activity, albeit at a healthier pace. As a Colorado Springs Realtor, perspective buyers are still looking to make purchases based on the low interest rates, and from what I understand from my Colorado Springs Mortgage Lender, refinancing applications are up over the past few weeks.
Feel free to contact our Colorado Springs Realtors at Selley Group Real Estate, LLC:
2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101
Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.