Buyers are you aware that interest rates are still around 4%. Buyers are you aware inventory in Colorado Springs is down 24%. Buyers do you know what this could mean?
It means the Real Estate market is poised to turn around and go up. Historically when sales remain constant and inventory drops, the market goes up because supply is way less than demand. In the $300,000 and below market, this is true. Across El Paso County, there is less than a 4 month supply of homes. This means that if no other homes go active on the market we would sell out in 4 months. When supply is less than 6 months it starts to be in “Sellers Market”.
So in summary, we are waiting! Buyers you better quit waiting because this great time will pass you by.
Thanks,
Brian
