If you are going to sell your Colorado Springs home, don’t wait. Remember ‘08!
That’s right if you want to sell your home in Colorado Springs now may be a good time.
In 2008 the real estate market saw the worst crash since the Great Depression. (Sorry for the reminder.) There is some disturbing news as of late that may indicate we could be headed for a downturn.
- Jobless claims rose last week, with orders for long term durable goods in the US declining for the second month in a row.
- Caterpillar announced job cuts of more than 10,000 in their workforce over the next 3 years.
- HP announced massive layoffs this month, with Groupon planning to cut 10% of its workforce. (roughly 1,100 jobs)
- Locally, Western Forge in Colorado Springs is going to lay off approximately 1/3 of its workforce.
However, it’s not all bad news. According to the latest article in the Colorado Spring Gazette, There are a lot of positives in our economy, and in the housing market!
- Builder confidence Nationwide is the highest since 2005.
- Colorado Springs City Tax Revenue jumped in August.
- The Fed kept interest rates at the same level and mortgage rates are still below 4%.
- Home sales are still up (nationally on average.)
- Gas prices are low, helping the average consumer keep more money in their pocket.
What does this mixed bag of tricks mean? I don’t know. Nobody does! If you are looking for someone to buy your house in Colorado Springs, now might be a great time to sell. We could be headed for a downturn but, the Real Estate market is still good.
So if you are looking to sell your house in Colorado Springs don’t wait until it’s too late.