The Pueblo metropolitan area surpassed Colorado Springs on realtor.com’s list of hottest real estate markets during the holiday season.
Pueblo shot up to No. 6 in December 2019, jumping 34 spots from its ranking the previous year, according to realtor.com.
Colorado Springs came in just behind its southern neighbor, falling one spot from December 2018.
Pueblo is seeing its home sales rise at the same time the rest of the nation is trending downward, as pending home sales took a step back in December after increasing slightly in November, according to a Wednesday report from the National Association of Realtors.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 4.9 percent to 103.2 in December, according to the NAR. An index of 100 is equal to the level of contract activity in 2001.
Year-over-year contract signings increased 4.6 percent, NAR reported.
Nationally, the markets where listing prices are around $250,000 — an affordable price point in most markets — are drawing some of the most significant buyer attention, including Pueblo, Fort Wayne, Indiana, Burlington, North Carolina, Topeka, Kansas, and Columbus, Ohio, said Lawrence Yun, the NAR’s chief economist.
“The state of housing in 2020 will depend on whether home builders bring more affordable homes to the market,” Yun said in the release. “Home prices and even rents are increasing too rapidly, and more inventory would help correct the problem and slow price gains.”