There is alot of information out there and nearly every expert weighing in on the housing stats for the end of 2008. No doubt that 2008 was a tumultous year at best. In an effort to understand our Colorado Springs market better, I encourage you to visit

www.pikespeakfacts.com

This site is invaluable in obtaining actual current data with which you can further understand our market here in the Springs. For example, by end of December we were down 14.2% in inventory (active listings) from the previous year, below 5,000 units of single family and patio homes. This is a crucial number to watch, as lower inventory is key to stabilization. Furthermore, it is interesting to see that every month last year, the sales price to listing price ratio was above 96%, indicating how critical accurate pricing of a property is.

Finally, some national numbers can be understood in a recent article from CNN Money at:

http://money.cnn.com/2009/01/26/real_estate/existing_home/index.htm

HAPPY NEW YEAR!
Ok, so one of my resolutions this year is to weekly update my blog! I come across so much great information that I would love to pass along and post, so I will be making a consistent effort to maintain this site with a bit of this information.

To start, I have posted a link to an article and video post on Forbes. Forbes magazine recently has named Colorado Springs as the number 7 most likely market to see an increase in housing starts for 2009, and as a city on the quicker rebound. This is great news for our market. Our inventory is down, interest rates are the best we have seen in years, and this combination puts us in great shape for the coming year!

Follow this link to view/read the recent Forbes article:
http://www.forbes.com/2008/08/25/housing-prices-rising-forbeslife-cx_mw_0825realestate_slide_5.html?thisSpeed=15000