Typical winter weather these last couple of days, sunny with 30's and 40's, and great scenery. Someone asked "How will we really know when the market has turned the corner?". The only way to really know is when sales and prices reflect a turnaround by increasing. The problem with that is, it will have already happened at that point. There are some secondary indicators. Inventory, as an example, after seasonally dipping to 5,385 units at the end of December, has only increased by 50 units or so since then, a very good sign. Pending and Under Contract (show for backup) sales already exceed last months closings, and while this figure is not closely tracked, shows some strength in the market. Showings, at least at our firm, are on a very healthy upward trend. Interest rates were at 5 5/8% this morning, a very good sign of good things to come.

Today's Pikes Peak photo was taken New Year's Day.