Real estate agents in the area won’t be surprised by this news: The Colorado Springs real estate market is doing really, really well. In fact, it just made No. 7 in Realtor.com’s Top 10 housing markets for 2020 and made the National Association of Realtor’s Top 10 list.
What’s the secret for the Colorado Springs Real Estate Market?
Both Realtor.com and the National Association of Realtors note that Colorado Springs’ strong local economy and steady job growth will keep the real estate market on firm footing in the coming year. It has also become a haven for people who feel priced out of other markets — both in Denver and from pricey coastal cities.
Realtor.com toasted Colorado Springs for its “an outstanding quality of life with low living costs and easy access to the Rocky Mountains.” Unlike other markets, its job growth is balanced across numerous sectors, including “aerospace, defense, cybersecurity and technology.”
Interestingly, all but one of Realtor.com’s Top 10 real estate markets were away from the East and West Coasts — inland as opposed to coastal. If the prediction turns out to be true, it will mark a shift from the dominant trend of the last five to ten years when more and more people were moving to the coasts. It’s possible, in other words, that those markets have reached a tipping point.
The other markets on Realtor.com’s list include Boise, Idaho, at the #1 spot, followed by McAllen-Edinburg-Mission, Texas; Tucson, Arizona; Chattanooga, Tennessee; Columbia, South Carolina; Rochester, New York.
National Association of Realtors
Also fans of the Colorado Springs real estate market? The National Association of Realtors, who included Colorado Springs in its Top 10 metro areas for housing after weighing several factors — migration, housing affordability, job growth and home price appreciation.
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