Market Update - by Lisa Leclair Waldorf

As the Colorado housing marketing strengthens, we are optimistic as we embark into the spring home buying season. In a recent report released by CoreLogic, a property information and analytics firm, Colorado experienced record housing prices in February. The report detailed that; Colorado single family home prices, including distressed sales, rose by 8.7 percent in February, compared with February 2013 (Inside Real Estate News, Colorado Homes Hit New Highs). Rather than a rapid increase, such rise can indicate a long term and sustainable outlook within the Colorado housing marketing. More positive news on the home front was released in the 2014 Investment and Vacation Home Buyers Survey conducted by NAR (National Association of Realtors). The survey outlining the 2013 existing and new home sales reported; Vacation-home sales jumped 29.7 percent to an estimated 717,000 last year from 553,000 in 2012 (NAR, Vacation Home Sales Surge in 2013). This report released by NAR also details the motives (such as a family retreat; plan to use as a primary resident and investment opportunities) of secondary home buyers. Moving forward, we hope this positive news will have a ripple effect into our mountain community and second home market.