Market Watch recently published an article, “The Most Popular Cities Where House Hunters Want to Move Right Now”—can you guess which city was at the top of the list?
According to the article, Colorado Springs is the city most likely to have the greatest amount of homes sold in the third quarter of the year. Other cities where buyers are likely to purchase this quarter include Chicago, D.C., Reno, and Lexington, Kentucky. Data is collected and calculated using the ATTOM Data Solutions Pre-Mover Housing Index, which is “based on the number of purchase loan applications for residential real-estate transactions across the country.” This number signifies the number of homes with “pre-mover” flags and is compared to the total number of homes in specific areas. On average, 76% of properties with a pre-move flag sell within 90 days, while 59% sell within 30 days. Colorado Springs homes have a lot of homes with pre-mover flags.
What does all of this real estate talk mean though? It means our wonderful city, Colorado Springs, continues to have a hot housing market—in fact, it is the hottest market for house hunters right now! Affordable housing paired with low unemployment make the Pikes Peak region the most desirable place to live in the country, just ahead of Chicago, Illinois, and the other cities already mentioned. For contrast, San Francisco, Rochester, New York, Honolulu, Providence, Rhode Island, and Grand Rapids, Michigan are the five cities at the bottom of the list, either because of high unemployment rates, unaffordable housing options, or both.
If you are looking to buy a home in Colorado Springs, now is the time to do so. Because it is such a popular city for house hunters at the moment, we expect that home prices will continue to rise. Although we don’t know what the next few years hold for our city, we can only assume its growing popularity will increase the value of homes, particularly because our home prices are much lower than in Denver. So, if you want a sweet cottage downtown or a family home near a great school, we recommend beginning the search soon. Call one of our experienced agents today—we’d love to answer your questions and help you find the neighborhood that best meets your needs and search criteria!