Colorado Springs keeps showing up on experts’ lists predicting a robust housing market for 2020, aligning with what we are seeing in the Broadmoor area and along the Springs’ west side.
Realtor.com projects dynamic activity for our area, ranking us seventh of the nation’s 100 largest markets for seeing notable home sales and price growth this year. These cities expected “to do best in 2020 are…secondary markets” with good job opportunities and affordable housing, said Danielle Hale, chief economist of realtor.com. Their December report indicates Colorado Springs “will be better equipped to buck the (national) slowing trend and sustain growth.”
The National Association of Realtors (NAR) ranked Colorado Springs among the nation’s top 10 markets expected to outperform over the next three to five years. A high livability appeal, especially for retirees, consistent job growth and affordability account for the ranking. These “markets are clearly positioned for exceptional longer-term performance,” explained NAR’s Chief Economist Lawrence Yun in the December report.
And millennials, born from 1982 to 2000, are now accounting for more of that performance. Colorado Springs has become one of the top five markets attracting this largest U.S. generation, according to analysis by Realtor.com. Their report says millennials are drawn, once again, by the area’s livability, affordability and good jobs.
Our own numbers verify our market is strong with sustained sales growth even in the higher-end homes. If you’d like to know more or think you may want to buy or sell a home in beautiful Colorado Springs, call Michael or Tim at 719-471-6200.