Stewart Title economist predicts market improvements for Aspen
Dr. Ted Jones, chief economist at Texas-based Stewart Title, cited a combination of local, state and national statistics in predicting that Aspen’s real estate market stands to gain in the near term.
Jones, speaking at the Aspen Board of Realtors luncheon in January, noted that Aspen’s visitation rates are up over past years, that Colorado’s overall housing picture is improving ahead of the rest of the country, and that the nation’s money supply is at an all time high. All of which sets the stage for stronger prices in the real estate market.
He pointed out that sales of single family homes, townhomes and condominiums have increased nationally for the last two years, signaling that the market has reached bottom.
“People have been sitting on their money for several years now,” Jones told a full house at the Aspen Meadows “Eventually, they will start spending it, and when they do, you will boom here.”
Click here for Jones’ blog.