Lack Of Inventory Prevents Bigger 2019 For Colorado Springs Housing Market
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Lack Of Inventory Prevents Bigger 2019 For Colorado Springs Housing Market
January 13, 2020 9:25 AM
by
Navindra Persaud

While Colorado Springs flirted with a record last year, professionals in the area believe that more inventory could have pushed the area into record-breaking territory.

"If we had more houses to sell, the numbers would have blown everything off the charts," said Brian Maecker of Remax Advantage in Colorado Springs, according to National Mortgage News.

The report revealed that single-family home sales were just 277 sales away from the record 16,337 sales in 2017. Contributing factors in the overall successful 2019 in Colorado Springs include: a stronger economy, heightened consumer confidence and lower mortgage rates.

"In December, just 1,302 homes were listed for sale in the Springs area, down nearly 23% on a year-over-year basis and the equivalent of just a one-month supply, based on the recent pace of sales, the Realtors Association report shows," according to NMN.

Inventory woes began hitting the area in May and continuously depleted over the months that followed and Maecker believes that if there were a few hundred more homes available for listing, those would have sold.

To learn more about Colorado Springs' big year in 2019 and its inventory struggles, click here.

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