July Housing Stats Offer A Bright Spot for Investors in the Colorado Springs Housing Market
The July 2023 real estate numbers for Colorado Springs show a market that is starting to shift but still offers opportunities for savvy investors.
The modest 1.4% decline in showings indicates demand may be plateauing from earlier highs. This could mean less competition and more room for negotiations on purchase price for investors seeking properties.
While still low, the uptick in months of inventory to 1.6 shows more homes coming on the market. Investors need inventory to choose from, so more listings create more options to evaluate for investment potential.
The nearly 10% drop in days on market signals some cooling in the market. Investors benefit from being able to properly assess a property before making an offer, rather than having to act instantly.
Rising home prices lift values, allowing investors to build equity. The 3.85% monthly appreciation can quickly add up over a few years. High rents also support cash flow.
Overall, Colorado Springs remains a seller's market. But for savvy investors, the July data provides some positives. Less frenzied competition, more time to evaluate properties, and still strong home price appreciation. Investors may need to adjust their strategy as the market shifts, but opportunities remain in the Pikes Peak region. The key is being adaptable and prudent when putting capital to work.
What does this mean for Home Sellers?
What does this mean for Home Buyers?
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