Is this a good time to buy a home in Colorado Springs?
City stats†
Population: (2006)
599,127
Median family income: (2008)
$68,000
Home price data
Median home price: (2009)
$204,000
Affordability index: (Median home price/family income 2009)
3.0
Prices peaked in:
2007:Q2
Total climb during the boom: (2000 to peak)
44.7%
Total decline so far: (Peak through 2009)
-8.7%
One-year change: (Q4 2008 to Q4 2009)
2.0%
Forecast**
Additional price change to bottom:
N/A
When they'll hit bottom:
2009:Q1
*(Q1 2010 - Q1 2011)
† Data is for Colorado Springs, CO Metropolitan Statistical Area
**A double dip in home prices is forecasted for this area. Prices have already hit bottom, have been rising, but are likely to fall again, in some cases resulting in an overall increase in home prices since the first peak. Notes:
Median home prices are for single-family homes through the third quarter of 2009, the most recent data available, and include sales of bank-owned properties. Sources: Fiserv and Moody's Economy.com
