What to expect in Real estate in Colorado Springs, CO in 2024

 

Many are anxious to hear what it looks like to buy and sell a home in Colorado Springs in this new year. I am encouraged by what I hear and see in the economy and what the projection looks like for Interest Rates, increased inventory, and employment in the Pikes Peak Area.

 

There's a lot of reason to be optimistic if you're thinking of buying or selling a home this year. Colorado Springs is one of the best places in the country to live, work, and play; the quality of life is amazing, public schools are fantastic, employers are moving here and bringing great jobs, and real estate hold their value, so I have some really exciting things on the forefront if you’re looking to buy or sell. 

 

People ask me what interest rates are going to do and I wish I had a crystal ball to tell everyone,  but there's so many things that impact interest rates, of course there’s what's going on in the world. There’s geopolitical and economic variables, we're all wondering what's the FED going to do. There's the unemployment rate, but when we look at interest rates and compare them to three years ago, it was considered high at 3%, and now we're up to 7%. If you look around October of last year, we're actually down. I remember when interest rates were at 16%.

 

A lot of people here, especially the younger population, have friends that bought in the 3% so to them it's not normal. The new normal is really going to be right around 6 - 6.5% we're going to go up a little bit and some people say at the end of this year we're actually going to be a little bit below 6%.

 

There are some great incentives right now, and of course...get your team of professionals, a trusted realtor, and a lender who can share different programs with you, and your financial advisor. Together we can make a custom plan for you.

 

Are you ready to learn more about Buying & Selling real estate to build financial security and increase your net worth? Learn more here, and reach out to Marquesa Hobbs, Top Pikes Peak area realtor at The Platinum Group to learn more!

 

Top Realtor, Marquesa Hobbs,  is ready to help you plan for 2024!