Back to the same old mixed messages seems to be the norm. According to an article "Real Estate Outlook: Mixed Message" by Kenneth R. Harney as seen on Realty Times on May 24, 2010 we are seeing a mixed bag:
1) Housing starts are up meaning that the number of homes currently under construction are up.
2) The number of newly initiated building permits is down.
3) New applications for mortgages was sharply down from last week.
4) Home prices in most markets are rising
It seems that the homebuyer's tax credit did create additional demand for homes thereby prompting a short term increase in prices. However builders and lenders are seeing the expected "Post Tax Credit" decrease in home sales and mortgage applications.
So what of the summer selliing season for real estate in Colorado Springs. Professionally speaking we still have a number of challenges, like the rest of the country: High unemployment numbers, uncertainty in the political landscape, volatile financial markets and spiraling national debt.
The most effective way, I have found, to determine what to expect in the market is through blogs and talking to many perspective home buyers and sellers. It seems futile to predict the future by looking at the past numbers. Sure there is seasonally adjusted numbers that can be expected in the Colorado Springs real estate market but that is where it ends. The erratic shifts we see today give us no concrete trend in which we can forecast longer-term future prices.
In short we do not know where we are headed in the short term. It seems to be day-to-day with lots of specultion. My recommendation: whatever your real estate goals are, execute them based on today's reality. Predicting a future move based on speculation will have the propensity to produce a less than desired result.
William Szilagyi,WilliamsHomeSellers LLC,www.ZColorado.com,www.WilliamsHomeSellers.com,colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs,Monument Real Estate,Palmer Lake Real Estate,Briargate Real Estate,Stetson Hills Real Estate,Fountain Real Estate,Air Force Academy,Colorado Springs Horse Property,Manitou Springs Real Estate,Colorado D20 Schools,Woodmoor Real Estate,Jackson Creek Real Estate
No comments:
Post a Comment