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Real estate prices on the rise in Springs

Wed, Nov 7, 2012

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Real estate prices in Colorado Springs climbed 4.4 percent year over year in September.

That was including the sale of distressed properties, which are those that sell in a short sale or some stage of foreclosure. Without distressed properties, prices increased 4.2 percent, according to a report from CoreLogic, a real estate analytics firm.

Home sales prices also increased  3 percent month to month from August

Colorado Springs is trending with the nation, though prices haven’t climbed here quite as steeply as they have across the country. Home resale prices, including distressed properties, climbed 5 percent in September, according to the CoreLogic report.

That was the biggest increase in real estate sales prices since 2006. It was also the seventh consecutive year-over-year increase in 2012.

CoreLogic predicts that the trend will continue and home prices will climb another 5.7 percent year over year in October

“Home price improvement nationally continues to outpace our expectations, growing 5 percent year-over-year in September, the best showing since July 2006,”, CoreLogic chief economist Mark Fleming said in a statement. “While prices on a month-over-month basis are declining, as expected in the housing off-season, most states are exhibiting price increases. Gains are particularly large in former housing bubble states and energy-industry concentrated states.”

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