Home builder confidence is up, according to the most recent survey by National Association of Home Builders/Wells Fargo housing market index (HMI). According to NAHB chief economist David Crowe, “low interest rates, affordable home prices and solid job creation are contributing to a steady housing recovery,” He went on to say “after a slow start to the year, the HMI has remained above the 50-point benchmark for five consecutive months, and we expect the momentum to continue into 2015.” “Growing confidence among consumers is what’s fueling this optimism among builders,” said Kevin Kelly, a home builder and NAHB’s chairman. This last statement is especially important for the second home and vacation property market as growing consumer confidence is one of the most important ingredients that positively affect the real estate market in resort areas such as Southwest Colorado.
MORE GOOD NEWS :Despite mild October temperatures, lodging reservations for the six-month winter season (November through April) are currently running ahead of the same time last season. Denver-based DestiMetrics, an organization that tracks mountain lodging bookings in 19 Western mountain resorts in six states, said that reservations as of Oct. 31 are up 7.4 percent over last year. From our initial survey of lodging companies here in Pagosa Springs it looks like this winter ski season could be a strong one in terms of the number of visitors. The snow last week helped get things kicked off at Wolf Creek Ski Area and reports are the conditions were quite good. With the new ownership at Durango Mountain Resort we are all anxious to see what changes Purgatory Ski Area will implement this ski season. If I can help you or any of your family or friends with real estate matters, recommendations for places to eat or lodging options, give me a call at: 970 264-7000 or email me at: MikeHeraty@frontier.net
