The Housing Bubble in Colorado Springs: 5 things you need to know

We get asked this question about the housing bubble in Colorado Springs all the time. And from our experience helping numerous clients in the housing market, seeing houses, and having listings every day, we have come to learn that there are a few factors which can help you gauge the market scenario. Here we give you 5 things you need to know about the housing bubble in Colorado Springs and what the real estate scene looks like in the next 3, 6 and 12 months.

#1 It’s a safe investment

The housing market has been one of the safest investments since the beginning of time. If you buy a house now, its value is always going to increase. But currently with the bubble it may not increase at the rate it has always. However, one thing you should know is that Colorado Springs (and Colorado specifically) ranks high in all the national polls like the best place to live, the best place to retire, to name a few. This naturally brings in more migration to our cities which will greatly help the housing market recover.

#2 Immense growth potential

Also, with the growth we are seeing, Colorado Springs is always going to be desirable because of the lifestyle that it brings. If you’re considering Colorado in general, my first question to you would be what kind of lifestyle you prefer. Here in Colorado Springs, you will have a lot of the advantages of living near a city and in a city.

#3 The military

We also are pretty insulated with our military. Our military is coming in and going out and so that is going to insulate us more. Lumber prices have also decreased just in the last week by 40% which is a huge positive sign for our new builds and clients.

Even though we have come down from 30 showings back-to-back in two days to 10 showings, we are seeing positive things as with Covid easing things a little and the military moving its inventory we are bound to see more buyers come through in summer.

#4 Foreclosures and investing in rental properties

Foreclosures on homes that weren’t allowed during covid will start coming into play once they are permitted. This will definitely provide more inventory which will naturally ease the market as well.

There are still laws in place that are preventing banks from foreclosing on property. As soon as some of those laws are lifted, we expect to have even more inventory release for buying. A great option for buyers is to consider buying rental property, as the demand for it will be high in the coming months owing to foreclosures.

Another reason to invest in rentals is due to military bases we have here who are constantly moving to and out of Colorado Springs.