The real estate market in Colorado Springs is going to be hot! (According to the Colorado Springs Gazette-Wednesday December 9th) As reported by Trulia.com, Colorado Springs will be ranked number 6 in its top 10 ten real estate markets that have a strong growth potential for next year. Colorado Springs is the only Colorado city that ranks in the top 10 on Trulia’s report. This is remarkable considering that Denver was in the top 3 cities nationwide throughout most of 2015. This prediction is based on five major factors:
“If you’re a renter, now is the time to buy.”
- Strong job growth
- A tight supply of rental properties
- A large pool of millennial buyers
- Data that indicates more people are researching a move to Colorado Springs
In a DS News online article, Zillow has reported that it is more affordable than ever to buy a home. With rents at an all-time high, renters can expect to pay close to 30% of their monthly income on rent. Conversely home owners average only 15% of their income on mortgage payments.
With interest rates at an all-time low, now is a good time to buy a home! If you’re a renter, now is the time to buy. Lower your monthly payments, and get all the advantages of buying a Colorado Springs home. Take advantage of the low interest rates and buy your first home.
Make it your New Year’s resolution to take advantage of the lowest mortgage rates in history. Buy a home in Colorado Springs in 2016!