January marked lowest home sales in the Pikes Peak region in years, following national trend
COLORADO SPRINGS, Colo. (KRDO) -- January marked the lowest number of a single-family home, condo, and townhome sales in the Pikes Peak region in the last two years, according to the Pikes Peak Association of Realtors.
The data covers El Paso and Teller counties and shows not only are sales low, but inventory is also low. The pickings are slim for first-time home buyers especially.
People looking to buy in the Pikes Peak region now have fewer available homes to make offers on, and the current market is especially challenging for many first-time buyers.
“Entry-level housing is still very difficult to find. ya know for the average price range — probably $450,000 and lower — that is a difficult price range to find inventory in," Board president Randy Case said.
While the sales locally are following the national trend - experts say there are other seasonable reasons for lower sales right now.
The Pikes Peak Association of Realtors said they expect everything to stay on the rise.
In the last 60 to 90 days several new investments into jobs in the Pikes Peak Region have been announced. That includes the expansion of Microchip within the last month - which will add 400 jobs.
