Colorado Springs’ hottest housing market in years continues to also be one of its most frustrating.
Single-family homes sell briskly, property owners enjoy double-digit appreciation and builders are busy — trends that have helped the local market rebound after prices plunged, foreclosures soared and sales slowed following the Great Recession.
That’s the good news.
But many buyers can’t find a home because of a shortage of properties for sale and, when they do, they often can’t compete with other house hunters unless they pay thousands of dollars above a seller’s asking price. Bidding wars are common and the supply of low and moderately priced houses for sale continues to shrink, which increasingly puts homes out of reach for entry-level and first-time…