Vacancy Rates Drop

The Colorado Division of Housing has released their 2010 Second Quarter "Metro Area Vacancy and Rent Study". The overall vacancy rate has decreased to 5.8%. This is the lowest rate since Q3 of 2001. It's important to note that the industry standard for a "Balanced Market" is a 5% vacancy rate, so Colorado Springs still sees a slight inventory surplus. For a more detailed analysis, please visit our Colorado Springs Homes For Rent site.

Where's The Opportunity?

This news combined with really low interest rates and declining property values creates a perfect storm for real estate investors. Troop movements effect the Colorado Springs residential rental market and since the trend is more troops in, it makes sense to invest now as opposed to later. If you are interested in aquiring rental property, we can help, give us a call at 719-388-4000 or visit our Colorado Springs Real Estate Site.

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Second Quarter Numbers are out for the Pikes Peak Real Estate Market. The most noteworthy number is the “Total Number of Sales”. The second quarter saw a 47% increase in the number of Single Family/Patio home sales over Q1. This is due in large part to the Federal Governments tax incentives and although we all enjoyed this shot in the arm, we can’t help thinking it’s only postponing the inevitable.

The Real Estate market needs to find equilibrium and prices need to settle into a predictable groove, especially in the upper end market.

Here is a look at the previous six quarters of Active vs. Sold properties. The most remarkable aspect of this chart for us is how seasonally consistent the Colorado Springs Real Estate market is. Next we’ll look at prices.