Patrick Muldoon's Blog Posts

COLORADO SPRINGS“The statistics do not tell the entire story. We may show only a 1.1% drop in the median sales price for all properties, and a slight uptick in active properties, but the real

The housing market continued to plug along in July across the Pikes Peak Region, remaining essentially unchanged from last July in median price, sales, and active listings. Still, the market feels

“The Front Range market of El Paso County and Teller continues to drag. April saw a 1.8% increase in total units sold from last year, but we remained 6.3% higher on active listings and our

COLORADO SPRINGS“The Pikes Peak region had an interesting March, and maybe a little worrisome. What continued to feel like a market shift ended up being flat. Sold listings were down 0.8% for

February felt like the market had picked up, and our local statistics showed that it did. We posted an increase in sales of 4.1% year over year. There were numerous positive posts on social media,

“The real estate market began 2026 sluggish and firmly in the red. Despite what would normally be considered excellent January weather, the market remained in a deep freeze with no real signs

Here we are looking back at 2025. A year that brought a lot of grief to REALTORS, lenders, buyers and sellers. One of the first years in a long time where everyone in housing was equally. &

As the year continues, the real estate market continues to drag. This November felt much more seasonal than in past years. Most agents were discussing how it felt like any buyers we had packed up

October ushered in ghosts and ghouls, and our weather began to change.  It was interesting to see that listings increased by 10.5% across all properties in a time that we usually see homes

And the status quo continues. There was a time when every month we got to write about the never-ending sellers’ market. Where every buyer either gave it all up to the seller or they did not

August remains an interesting month for the Pikes Peak Region. Buyers continue to have more options with active listings up 15.9%. We saw some easing in values year over year, down by 3.2% and units

Are the tides turning in favor of buyers? We have some signs that it may be true. July proved to be a frustrating month for sellers. What is normally summer selling season was lack luster at best.

 “Summer fun may be here but, real estate in the Pikes Peak region is far from fun for most. June was lackluster for much of the broader housing market. We saw a negligible increase in

COLORADO SPRINGS“May continued to bring a higher volume of inventory to the market, up 27.7% year over year and giving buyers a lot of options. Pending home sales also rose 15.3% for single

“Is the housing market stagnant? It feels that way to many clients and REALTORS® alike. With listings up 30% across all properties and the median price remaining unchanged, many sellers

COLORADO SPRINGS“The housing market continues to be resilient despite a 28% increase in March listings compared to a year ago and economic uncertainties including tariff talk that is both in

COLORADO SPRINGS“Strange times in the housing market right now. Both locally and nationally, we continue to see a major dichotomy in homes that sell, and homes that sit. Higher-end homes

Frustration in the housing market continues with no real winners. January had a mild win for sellers with total sold properties up 3.2%.  But we stacked a lot of new inventory on the market,

COLORADO SPRINGS“And the year comes to an end much where it began. Median prices were up, active listings remained higher, yet we did sell more homes year over year. Which was a nice little

COLORADO SPRINGS“The housing market continues its march up on values as witnessed 3.3% increase in the median price across all properties in the month of November. This continues to keep

“Have we seen the first break in trend that may bring some reprieve to buyers? Maybe, maybe not. The good news is we sold 21.4% more listings year over year, but we were also up 30% on active

COLORADO SPRINGS“It looks like it’s groundhog month once again in Colorado Springs as we wake up at the beginning of each month to find statistics that make the numbers appear better

“With a 33.1% increase in listings and a lack of buyers, our August median price pushed up 3.7% but overall, sold properties were down 2.1%. The market is very unpredictable right now. If you

“It’s a unique time in real estate and the industry has a ton of changes on the way. The spring season was not nearly as busy as many would have liked. The summer went by quickly and now

“As summer begins, housing continues its slow down across the Pikes Peak Region. Once again, we see the median price rise slightly. But the other statistics are not great. Sold listings

COLORADO SPRINGS“We exit another month with numbers that do not tell the entire story. But I am going to fill in the gap, and I think it is going to lay out a different story - one that is not

“The market is giving us mixed signals. On one hand, values went up 5.2% in April which might lead you to believe things are great in the Pikes Peak region. But we need to address the elephant

The Spring rush is off to a slow start as we look at March’s numbers. We begin with no change in values up or down across the medium price range of all properties.  Sellers have started

COLORADO SPRINGS“Is February an anomaly or are we seeing a new trend play out as we enter 2024 across the Pikes Peak Region?  We have seen a pre-spring surge in inventory that increased

“We began the year with a marginal increase in values across all properties. Active listings dipped 2.2% and we were down 8.8% year over year in sold units. This inventory strangulation

COLORADO SPRINGS“I would begin by saying 2023 was anticlimactic. Home prices held and the stalemate between buyers and sellers remained. In general, buyers opted out in 2023 as shown by the

COLORADO SPRINGS“Home prices remain stubborn despite decade low sales. In the Pikes Peak region, we are sitting at 2012/2013 levels of units sold and yet finish November with a 2.5% increase

COLORADO SPRINGS“What it is, and how it feels is different. You may ask what that even means. Looking at the statistics, you would probably be drawn directly to the fact that the median sales

“As we look at September housing data, you begin to see a real anomaly.  Active homes across all properties dropped just shy of 12 % year over year. We also had a 26.8% drop in total

 “The housing market along the Pikes Peak region continues to create frustration for many buyers and sellers. Despite having active listings fall 14% year over year for all properties, we

“One of the strangest markets I have seen in a long time, maybe ever. And that is because there is not a one size fits all going on right now. While we are 1.8% off our top median prices,

For the buyer waiting for prices to drop, it is going to take a little more patience in the Pikes Peak Region. Although overall sales ended up down 23.1% across all properties, we were only down 1%

COLORADO SPRINGS“What should have been a busy May just wasn’t. So now, what’s in store for the remainder of the year? Our total units sold remained significantly off last

 “Spring has sprung, but housing hasn’t. The real estate industry was waiting for spring. Rumors and speculation on social media were that spring would bring sellers to the

A tale of two stories. On one hand, REALTORS was thinking, along with sellers, that the Spring season would start out with a rush of business. They were right, sort of. If you have a home in

In a stunning turn of events, February 2023 saw a pullback on the medium price of 5.2 percent year over year. A year ago, we were told this could not happen. The myth was that we had such a small

To say this was a strange year for housing would be the largest understatement I could say about housing. What started out as another year of record-breaking price increases and buyers getting

“Winter is here, for housing too. Shell-shocked sellers are still trying to figure out how they missed the top, and when will the market rebound? But the simple answer is, they did miss

“Despite the continued economic tightening, that pesky inflation number does not seem to budge. The Fed is bent on bringing it down, but as we look in each month, it’s just not

“Housing affordability coming to a city near you, but when?  It seemed like just yesterday when the REALTOR® population at large stated that Colorado would not and could not see

 What a difference just a few months make. The shift is here, and it is moving fast. We are down almost 30% on sold listings year over year. And that statistic continues to show how the buyers

 “I have to admit, even I am a little shocked at how fast the market decided to change. It is like we had a really hot summer day and a few days later, a blizzard. One weekend we were

“Patience is a virtue, they say. And for the buyers who sat on the sidelines, whether on purpose or because they could not swing the insane real estate market, it is going to pay off. As a

Is the party over?  It reminds me of the song by Semisonic, Closing Time. It’s been a good run, lots of fun had by all, but at some point the party stops, the lights turn on and you

“Spring has sprung, and housing has too. The resilience of the housing market remains steadfast as April brought more appreciation to an already unaffordable market. We stacked up another

“I was not expecting a slowdown as we entered March. The writing was on the wall. Low inventory and high demand were going to continue to cause the same hikes we had seen. As the snowy season

“February was a blur of real estate frustration. We wrapped up 2021 and it appeared like the escalation clauses were less frequent and that appraisal gaps were not nearly as large. But

“There is a quote that hangs on my wall that reads, ‘Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body, but rather to skin in

“November tosses most of our diets into chaos as we enter the holiday season. It is the time of year that we all look towards January, admitting there is a wagon we will need to get back on

“It was amazing weather here in the Pikes Peak Region all of October. Very few times in Colorado do you actually get a Fall, and this year we were amazed with colors changing on the trees,

Blog: https://www.muldoonassociates.com/blog/Topic: Short-Term Rentals Trend Upward, But At What Cost to Neighborhoods? There’s a trend happening in Colorado housing, that isn’t so

The fresh scent of fall was in the air. The days were still hot, but the evenings were cooling off and you could sense a change in the weather. Colorado can really have some great fall weather when

“As kids returned to school, and families finished out their summer trips, we felt a slight lull. Social media in the REALTOR® world was discussing a possible stall. Are showings down?

While prepping for Independence Day, many REALTORS were also trying to predict what July’s real estate market would bring. Buyer fatigue was setting in, and REALTOR rigor mortis set in about 6

"June, the month that finally ushered in Summer!!!  June 20th struck the official date of summer, but the housing market had never left last summer. There was never a fall or winter for

“Are we headed into the roaring 20s or a great depression that followed? As everything begins to open up, we have a lot of money that has been on the sidelines, and it appears people are ready

 “Real estate has been a very interesting thing to follow for the last year. In one of the most trying times in our history, where an entire world economy was closed down, real estate

Supply and demand are the typical eb and flow of the pricing of most products. With high demand and low supply comes a push-up on prices. In the world of real estate, we are experiencing a 63% drop

“Springtime is coming to the Rockies and housing remains in a full-blown shortage. With the median price range up on all properties 17.5% from last year, there is no relief coming into summer.

 The housing market took yet another race to new highs as we begin 2021.  The medium sales price rocketed up 15.2 percent on single family homes and the competition in the race between

 “It is almost hard to be creative when writing these reports because the story remains the same. Much like the lack of snow fall to hit this winter we are seeing a total lack of

 With the holiday season fast approaching and the thoughts of days off, time with family, and pumpkin spice, the one thing we will not be enjoying is gifts of more housing inventory in the

 “Many think that fall brings a slowing down of the housing market. As September wrapped up, kids went back to school, or didn’t, we once again realized that housing is not seasonal

 “There has been a direct correlation between the drop-in inventory and the increase in pricing along the Pikes Peak Region.  We saw active listings drop over 50 percent among all

July featured hot weather and an even hotter housing market. We hit the summer run with a 14.4 percent increase in values in one year across all properties sold. As we continue to see low inventory

 “The obvious side effect of COVID was that people would keep properties off the market. In the Pikes Peak region we saw a decrease on active listings of 12.4 percent for single

 “April was a very interesting month across the country and that was no different here in the Pikes Peak Region. Single-family listings were down just over 29 percent as sellers tried to

“The Pikes Peak region woke up in November to some cold days and a hot real estate market. The winning streak continues for sellers as the market remains tight. And although we ended up with

“As the weather cools, the housing market does not as the Pikes Peak Region is not allowing the ‘off season’ to disrupt a strong housing market. In fact, we saw the average days on

 The economic winds of change are not changing. September continued to be a record-setting month. We got to experience new listings dropping while pending sales increased. Not a good scenario

The evening before the FED dropped the rate .25% an influx of money was pushed into the markets in the form of QE. This was because of a liquidity problem. Short term rates had jumped to 10% and the

“Ask a local REALTOR if we have seen a market shift, they would likely respond, ‘Yes’. I would also guess that last year most of us felt the same way during this time period. 

Today we got the word that Fed Chair Powell has dropped the interest rate .25%.  This is the first cut since 2008. As I scour the many news sources reporting on this cut and then watch the DOW

“The Pikes Peak region continues to push home values up month after month. Both townhomes and single- family homes experienced price increases even though average days-on-market pushed

Last week continued to be up and down with the stock market. We did end up pretty flat. We were not as robust on jobs or unemployment as everyone thought. Which led to interest rates staying low

The spring was cool, as far as temperature goes, a welcome change in our state with rain, cooler temps, high snowpack and some great skiing. But the cooler temperatures did not cool off the

I wrote this for the Colorado Association of REALTORS. The current market report for our April in Colorado Springs. We are always looking backward with these. I hope you enjoy it!“April&rsquo

It is safe to say the threat of interest rate hikes has subsided. We were told last year we would see numerous hikes from 2018 into 2019. Then after a few rate hikes, they stopped.I wonder if the