On track to break sales records in 2018, Colorado Springs is continuing to be at the top of the nation’s housing market. Realtor.com has predicted this and more for this city in lovely Colorado. Currently ranked in the top 10, it’s a coveted area for families and singles alike.
The rankings are based on home sales and the prices of the homes and increases for the following year. This ranking goes on to predict what the median prices will be for the real estate market in any given area. Colorado Springs offers a variety of benefits to the newcomer.
In 2016, the area set records for sales according to the Pikes Peak Association of Realtors. These records were based on the sales for each month in the previous year. Meanwhile, the number of sales for the current year is already ahead of the previous year.
The real estate market is delighted with the results and they’re continuing to work toward their goal of being number one in the real estate market. Of course, there are always a few challenges. The main challenge for this area is that there are few entry-level homes available on the market. Most of the homes are for those who are making more money than an entry-level home.
For those who are well employed in say the teaching field, police or fire department, they can afford the median priced homes. However, those who aren’t so gainfully employed are finding it more of a challenge to find entry-level homes that fit their budget.
Colorado Springs is addressing this issue accordingly and attempting to build more homes that are for the entry level group. Focus on making housing affordable for everyone and the belief that everyone should own their own home vs renting their home has gone far to ensure that the pricing is affordable for everyone.