Home inventory has decreased by 30% for the month of December when compared to six months ago (July). Compared to the previous month of November, there was also a decrease in single family homes for sale.
In December 2010, single family Inventory in the Pikes Peak MLS was not only higher but there were fewer single family home sales when compared to sales in December 2011. Compared to this time last year, months of inventory for Colorado Springs is much lower.
For December, Single Family Home Inventory in the Pikes Peak MLS was sitting at 5 months (compared to 5.7 months in November). Looking at statistics over the past six months, we are at 5.6 months inventory.
The months of inventory has improved considerably in Colorado Springs. As long as the inventory levels remain at these levels and sales increase, the market will continue to improve. There is a balanced market in Colorado Springs when inventory sits at 6 months.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed
Also Read: El Paso County Home Sales for December 2011