February Market Update

The Pikes Peak Association of Realtors reported sales were down by 9.4% from last February which is much better then the figures for January which was off by 22% from the previous year. Housing prices in February were down 10.3% from a year ago. The good news is that the number of listings is still declining which is the start to a better market. When fewer homes are on the market and buyers start to come out of the wood work the market will find equilibrium and prices will start to get better.