Monthly Economic Indicators for Colorado Springs real estate continue to show cautious improvement through November 2012. In the report published by Summit Economics, LLC, data shows confidence for Colorado Springs home sales.
Single-family home permits issued in El Paso County improved from approximately 1400 to 2100 units. Other promising news in the Colorado Springs real estate market has to do with 26.6 percent reduction in foreclosure filings. The data is seasonally adjusted at an annual rate.
Other good news coming out of the Springs Monthly Economic Indicators for Colorado Springs Metro Area is an increase in sales, both in vehicles and retail. New car and truck registrations have increased since the end of January 2009. In El Paso County, the number has reached levels similar to the end of 2008 and January 1994. For perspective, note that there were substantially greater numbers of new vehicle registrations during the period in-between those dates.
Perhaps the most impressive chart published by Summit Economics is that of Taxable Retail Sales in millions. However, it may be hard to compare because of the quantitative easing and other government programs. In January 1991 retail sales were at approximately $2.2 billion. By January 2013, they are at $6 billion.
The reality check comes from the employment sector. There was “Bad News” regarding wage and salary jobs, initial claims for unemployment, and unemployment rate. The overall job growth has been edging up in the last few months after a year of declines.
Colorado Springs Metropolitan Statistical Area is once again losing more jobs than it is gaining. This is after a brief period of time during 2011 when more jobs were being added than were being lost. Summit Economics gathered information from the Colorado Department of Labor and employment.
Initial unemployment claims have been falling since the end of January 2009, although they have risen less than one percent during 2012. The unemployment rate has been above nine percent since January 2010.
For information about Colorado Springs real estate possibilities, contact Ann Heiring, top local REMAX agent at (719) 440-1010 or Toll Free at (800) 246-8978 to learn how our acclaimed city can work hand in glove to help you achieve your lifetime goals. In appreciation for those who serve our nation, Ann offers rebates for active and retired military.