The housing market in Colorado is red hot, with statewide home prices increasing approximately 24 percent year over year, as of June 2021. With this in mind, it's not too surprising that a Colorado city was able to break into the Wall Street Journal's list of top 20 'emerging housing markets' for the second quarter of 2021.
In collaboration with Realtor.com, the Wall Street Journal reviewed data for the largest 300 metropolitan areas around the country, ranking Colorado Springs as the 14th hottest emerging housing market, up from a rank of 32nd in the first quarter of the year. At the top of the second quarter list was Billings, Montana, followed by Coeur d'Alene in Idaho, the Eureka-Arcata-Fortuna area in California, Springfield in Ohio, and the Manchester-Nashua area of New Hampshire.
As far as Colorado Springs goes, home prices continue to rapidly rise as more people around the country seek to call Olympic City, USA home. In June, the average price for a home cracked $500,000 for the first time ever at $502,961, a 25.1 percent increase year-over-year.
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