Things are looking up in El Paso County in terms of economy.  The Colorado Division of Housing announced that 21 percent of new single family permits, for the state, were issued in El Paso County last year.

This is a sign that people are ready to spend.  

"Home prices are heading up - an indicator that the housing market is on its way to becoming stable, something that did not exist in the last two years. "said Monica Mendoza of the Colorado Springs Business Journal.  "Colorado Springs could see a return to normal pricing within a year."  

In a report by the Southern Colorado Economic Forum, Fred Crowley, Senior Economist said that there have been strong increases in single family home sales, car sales and an increase in wages.

"The El Paso County economy showed its strongest growth in two years, and it did so without artificial effects like home-buying incentive programs or reinvestment job act money." said Crowley.   "This time, the economy showed improvement all on its own."

Sales of single family homes in El Paso County are up 30 percent.  "The local economy is much stronger than I thought it would be," said Crowley. "Overall, the news is very positive."

Read the full article at the Colorado Springs Business Journal.

Image Source: CityData.com

Posted in Buyer Resources, Real Estate Trends

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