What a difference a week can make! Last week the stock market was down over 33%. Yesterday it had the biggest one day point gain in history. Wild times indeed.
Impact of Coronavirus on Colorado Real Estate
Since we’re a Colorado real estate company, you’re probably reading this wondering what does all of this mean for real estate in our area. Sorry to say but there is no way to know. What I do know is that while things are bad now and I feel there will be long term impacts of Coronavirus, the fundamentals that made Colorado a great place to live and work before, will continue to do so long into the future.
The whole world is hurting right now, but Colorado Springs and Pueblo are in a great position to survive and rebound when the Coronavirus is over. Here’s some reasons why I feel this is so:
- High percentage of federal jobs in Colorado Springs – The federal government will continue to pay wages throughout the crisis. This will allow those people to continue to pay all their bills and support the rest of the economy.
- Reasonably prices housing – True housing prices have gone up significantly in the past few years, but compared to many other parts of the country and Colorado, Colorado Springs and Pueblo home prices were not over inflated. This means prices won’t drop as much if at all.
- Strong community – Again it’s true that the population of Colorado Springs has grown considerably the last few years, but there’s still a strong sense of community and helping our neighbors. Pueblo is predominately long term residents, with strong family ties to help people get through.
Hope Through the Coronavirus
Sorry for not being able to give you all the answers and tell you what’s going to happen with the Coronavirus. I hope this quick post gave you some hope for whatever is to come. If you have housing needs of any kind, here at Sell My House to Smith we’d be happy to chat to see how we can help. Just give us a ring at 719-629-7740 and we’ll do whatever we are able for you.
On a completely unrelated note, I wanted to share a picture I took of a pileated woodpecker. Seeing this made me stop and think that all around us Spring is here and the sun is shining. Get outside and enjoy some fresh air. Away from other people of course;)