Buying vs. Renting in Colorado Springs

Buying vs. Renting

A Glimpse At The Apartment Industry

At present, the portion of the Colorado Springs real estate market known as the "apartment industry" is relishing its recovery following several years of lag behind home building. And at this same time, the new home builders and Colorado Springs REALTOR groups are feeling the squeeze.



Typical real estate rents have swelled because of the distance between upward demand and inventory shortage. As housing crisis intensified in many areas, and a budding number of possible new home buyers are trying the rental market as a substitute. Additionally, financing is not as abundant as it was prior to the current credit situation. The fastest rent increase in eight straight quarters occurred where Colorado Springs real estate prices tend to be at its highest and the figure of foreclosures and mortgage delinquencies are intense.



A real estate survey recently illustrated that increasing apartment rents have put a crimp on the renter's budgets. With more than 60 percent of the respondents spending more than the suggested percentage of their salaries on rent. Industry evokes just about one third of an individual's annual income should be spent on housing.



Here in Colorado Springs, we have a wide range of real estate offerings! Should you buy or rent, we have something for you. Our Colorado Springs REALTORS are more than willing to assist you in your choices. Having a home or apartment (whether it is bought or rented) is still a necessity for anyone. Let's get started! If you are interested in viewing Colorado Springs homes for sale as an investment opportunity, the time to buy may be now. Please visit here for information about Colorado Springs commercial real estate.