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