The Breckenridge real estate market is among the strongest in the entire United States, and even in the remarkably stable state of Colorado. Breckenridge is a resort community, meaning that there are almost no commercial or industrial properties to be considered in the overall Breckenridge real estate market. The residential portion of Breckenridge has proven to be remarkably resilient, although it has unfortunately endured some negative effects from the bursting of the real estate bubble. Colorado at large and Breckenridge in particular have been having issues with foreclosures and bankruptcies resulting in higher numbers of defaults. Overall, though, most signs indicate that Colorado and Breckenridge are together trending towards a large recovery after an only moderate period of recession.
A June 16, 2009 article in the Aspen Times noted that foreclosure activity in the state of Colorado, including the Breckenridge real estate market, has declined considerably in the last month, heralding the fact that a bottom in the market may have been reached. The article, which was re-printed in the Summit Daily News, stated that “Foreclosure activity in Colorado decreased 15 percent last month, when compared with the same period a year earlier, suggesting the state's housing market is stabilizing, industry data shows. A total of 4,876 properties in the Centennial state were in some form of foreclosure in May, according to RealtyTrac Inc.” The rate of foreclosures in the Breckenridge real estate market seems to indicate not only the stability of the local market, but also the hope for a recovery in the near future.
In fact, according to a July 25, 2009 article in the Summit Daily News, “Housing Stats Up; Colorado #1 in Recovery. Cindy Perman writes for CNBC.com. She reports that according to an Industry survey published Thursday, sales of previously owned homes in the United States increased at a faster-than-expected annual pace in June, in the third straight month of gains.” On the negative side, an article published in the Denver Post found that bankruptcy filings for Colorado, including Breckenridge real estate, spiked sharply in the most recent month.