Top Two Challenges Today?
Inventory and Affordability
Inventory is simply the number of homes on the market at any given time. Over the past number of months, inventory has dropped for homes in the under $300,000 price point. In early summer, sales of homes under $300,000 dropped 22% over the same time-frame in 2018. This was due primarily to lack of availability.
Affordability is a term that relates to how many people can afford to purchase a home in any given area. Again in early summer, there was a 16% increase in sales of homes in the $300,000-$400,000 price range. Why? Buyers who needed to get into a home were willing and able to pay the higher price. However, it pushed housing into a place of un-affordability for many.
This situation is difficult for those entering the housing market and those who would like to move up.
One would think sellers would jump for joy at these higher prices! True . . . until they try to move into their next home, whether it’s larger or smaller, and find the higher prices and low inventory are affecting them, too!
Great news: recent drops in interest rates help make payments easier over the life of the mortgage!
Real estate transactions are a finely balanced process! Call us today to allow us to serve you in this challenging market.
Fantastic in Florissant
Space & Privacy close to Divide!
$252,000 (yep, under $300,000!)
This 3 bedroom / 2 bath HUD manufactured home is neat as a pin and ready for you to make it yours! The price is perfect for entering into home ownership or expanding your real estate holdings! Call us today for more information or a tour!
Close to Everything!
Fantastic Neighborhood – Views!
Incredible Pikes Peak views and close to schools, Aquatic Center! 5 bedrooms and 3 baths for your big family and/or loads of friends will have room! Decks and wildlife! Adjacent lot for sale also!
Come Home to Woodland Park TODAY!
Colorado Springs Beauty!
District 20 Schools!
Great 5 bedroom / 4 bath / 3100+ square foot home in fantastic location! HUGE backyard and newer deck! Call or email to see this one FIRST!