The promise of 250 new jobs coming to Colorado Springs bodes well for the housing market. Boasting a potential economic impact of 100 million dollars in Colorado Springs, the Aerospace corporation is developing its new Space Warfighting Center which is expected to be fully operational early next year according to Aerospace officials in a September 6, 2022 KRDO News article by Scott Harrison.
A report released earlier this year from the University of Colorado Leeds School of Business indicates strong job growth throughout Colorado industries in 2022. Also of important note considering the post pandemic malaise in willingness to work among America’s labor force, Colorado is among the top five states for highest labor force participation according to Richard Wobbekind, faculty director for the Leeds Business Research Division.
Headlines abound signaling the cooling housing markets and the Colorado Springs area is no exception, but signs for rebalancing at a manageable pace remain positive. Consider the freshly released stats showing the average sale price of $541,778 for single family homes in El Paso County, up 8.3 percent from August 2021, per the Colorado Association of Realtors report for August 2022.
Add a recently published ranking of number two of best places to live for Colorado Springs by the widely read US News and World Report magazine and the horizon looks bright for a stable housing market.
KRDO NEWS: New Space Warfighting Center in Colorado Springs; https://krdo.com/news/top-stories/2022/09/06/new-space-warfighting-center-in-colorado-springs-projected-to-bring-250-new-jobs/
Denver Gazette: Every Major Colorado Industry Will Experience Job Growth in 2022 Report Says; https://denvergazette.com/news/every-major-colorado-industry-will-experience-job-growth-in-2022-report-says/article_4f4a5f3c-56ef-11ec-b285-27489c8146c9.html
Colorado Association of Realtors: Local Market Update for August 2022; https://car-co.stats.showingtime.com/docs/lmu/x/ElPasoCounty?src=map
US News and World Report: Best Places To Live In the US in 2022-2023; https://realestate.usnews.com/places/colorado/colorado-springs