Colorado Springs Real Estate Market Is Improving, According To Tanya Stevenson-Becht of Park Avenue Real Estate

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) May 22, 2010 -- "Colorado Springs Real Estate Market is improving, with the first quarter of 2010 bringing more stabilization and a decrease in existing home inventory in the Pikes Peak Area, as well as in El Paso & Teller Counties," according to local Realtor Tanya Stevenson-Becht. "In fact, the overall market health for 2010 is going to be much better for us than elsewhere in the nation."

The Colorado Springs Real Estate Market has seen the inventory of single family homes for sale continue to decline, which has led to a stabilization in home prices, decreasing the housing surplus. The average Days on Market have decreased by 9% over the past 30 days. There were 313 more homes under contract in March 2010 compared to March 2009.

Continued record-low interest rates as well as extended federal tax-incentives for both first-time home buyers and move-up/move-down buyers have helped spark a surge in sale transactions, especially in specific price ranges. "We especially see First Time Home Buyers benefiting, with rates currently as low as 5% for Conventional Financing and as low as 4.875 % for both FHA and VA loans." said Stevenson-Becht.

Economic information that was presented January 2010 at the annual Colorado Springs Economic Forecast shows projections of increased employment rates, average wages/salaries, and single family housing permits in 2010 compared to 2009. 2010 has already reflected positive statistics with continued job growth and an anticipated influx of thousands of military personnel to Fort Carson.

This continued military growth has already led to an expansion of jobs in the service sectors near area bases. The greater metropolitan area around Colorado Springs is also experiencing a healthy increase in real estate transactions. Homes for sale in Woodland Park, Cripple Creek, Falcon, Fountain, Monument, Security and all of El Paso and Teller counties continues to be on the rise.

During the first quarter of 2010, sales in El Paso County have increased by more than 16%, compared to the first quarter of 2009, and this trend is forecasted to continue throughout 2010 for the Pikes Peak Region.

As a side note, Money Magazine names Colorado Springs the Number 1 Big City To Live In. Men's Fitness names Colorado Springs the second Fittest City in America. Kiplinger’s says that Colorado Springs is the fifth Best City to Live, Work and Play in, and Forbes names Colorado Springs the 10th Best Place for Business and Careers. There are 27 Fortune 500 Companies in our region and a potential work force of 3.1 million people within a one hour drive.

More information on thr Colorado Springs Real Estate Market is available from Tanya Stevenson-Becht of Park Avene Properties at 719-548-9900 or at www.coloradospringsEhomes.com. Ask for market information on specific neighborhoods, information on the extended tax credit for active duty military personnel or a Complimentary Market Analysis for your home.

Colorado Springs real estate