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Slight increase in available homes in Pikes Peak region

COLORADO SPRINGS, Colo. (KRDO) -- The housing market in the Pikes Peak region made a slight improvement last month.

According to Zillow, home inventory rose 8.4% in June. While more homes are beginning to pop up in searchers, Zillow reports the demand still far outweighs supply, saying mortgage rates dropped to near all-time lows in June.

Additionally, there is still no relief for high housing prices. In Colorado Springs, Zillow reports the typical home is now worth $415,492, which's up 23.3% compared to June 2020 and up 2.8% since May 2021.

When it comes to rentals, the typical cost of rent is $1,722, up 13.2% since 2020 and 1.8% since May 2021.

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