With the year half over, I like to look at numbers. The official statistics reports for the Pikes Peak Association of Realtors (the board of Realtors for Colorado Springs and surrouding areas) won't be ready until next week, but the preliminary data looks a little grim. There are over 6923 active listings of single family / patio homes today, another record high for available inventory. Sold data is not complete (today being the last closing day of the month, and admittedly a popular one), but it is unlikely we will see 1,000 sold units for the month (only 750 or so have been recorded so far), meaning sales will be down more than 20% again over last year.
This is the kind of the thing buyers should be all over. With interest rates in the 6.5 to 6.75%, and such amazing selection, I would expect far more buyers than sellers entering the Colorado Springs real estate market. The truth is more sobering, in that during June, we continued to see new listings that exceeded the sales rate.