Colorado Springs #14 in Realtor.Com's "Top Housing Markets of 2022"
Realtor.com, a leader in internet real estate search engines, has just released its "Top Housing Markets of 2022" and Colorado Springs is listed as #14. Colorado Springs was not the only Mountain West city to appear in the top 15. Salt Lake City and Boise, ID came in as #1 and 2 respectively. Colorado Springs beat out its neighbor to the north, Denver, which landed at #48. As the pandemic continues, there is definitely a growing interest in cities that offer more value for square footage, greater access to the outdoors, and a thriving business environment. Colorado Springs certainly offers all three of these desired qualities. It's no wonder home prices in Colorado Springs rose 19% year-over-year from 2020-2021. Realtor.com has a more modest increase forecasted for 2022. They predict that Colorado Springs will see a 5.2% increase in homes prices and that homes sales will rise 10%.
Per their website, here are some of the factors that Realtor.com weighed in determining the 2022 HotSpots.
- Tech jobs without the crowds: Homebuyers can find more breathing room in this year's top housing markets relative to the 100 largest U.S. metros, at an average 60 fewer people per square mile, without having to sacrifice big city job opportunities.
- Magnets for big city remote workers: On top of having strong local job markets, the top 10 markets are attracting remote workers. With the rise in workplace flexibility during the pandemic, these workers are likely looking for a chance to escape city life while continuing to make a big city salary.
- Hotspots for both millennials and retirees: With more than 45 million Americans at typical first-time buying ages, millennials will be key drivers of 2022 housing demand nationwide and the top markets are no exception. At the same time, many of these areas are popular retirement destinations, which means older generations will also play a key role in these markets.
- Relatively affordable home prices that are projected to rise: When compared to the 100 largest U.S. metros, median listing prices in the top markets are an average of 8.6% higher and 2021 sales prices are projected to rise at a double-digit pace over 2020 (+14.1%). Additionally, because homes in these markets are relatively larger than the 100-metro average, some buyers could potentially still find more house for their money.
Read the entire article and see the complete list of 100 "Hot Spots" here: https://news.move.com/2021-12-07-Realtor-com-R-Forecasts-the-Top-Housing-Markets-of-2022
Our own data gathered by Remax Properties shows what anyone who has searched for a house in the last year already knows: the Colorado Springs market is "hot". See below for a breakdown of year-over-year statistics for El Paso and Teller Counties.
With all the competitiveness in the Colorado Springs market, having the right real estate agents on your team is vital. Whether you are buying or selling, experienced agents from the Clement and Marzolf team can make all the difference in achieving your real estate goals.Posted by Clement Marzolf on