Home inventory decreased by 22.1% for the month of January 2009 when compared to August 2008. Looking back to 2008, we the highest number of Single Family Homes for sale in June which is not surprising since inventory is normally highest during the summer months in Colorado Springs.
Single Family Home Inventory in the Pikes Peak MLS has also decreased by 9% when comparing January 2009 to January 2008.
Looking at stats for January 2009, Single Family Home inventory in the Pikes Peak MLS is sitting at 11.9 months (compared to 10 months last month). Colorado Springs will reach a balanced market when inventory drops down to 6 months.
*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed