Finally we see some good news for the higher end home market. The "Mortgage Bankers Association" reports the average size of a mortgage purchase application increased 9 percent from December to the end of March, from $214,500 to $233,300 in March.
Really good news for the Colorado Springs Real Estate market because these numbers are just above our median home price of $180,000. Our hope is that as homes sell those buyers stay in our market and move up to more expensive home.
Here is a more in-depth look at this report from CNBC