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
July Was Hot, But Not For Housing
Dated: August 26 2026
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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 slower to most agents, and this year’s business feels harder than last year’s. There is more tension, more anxiety—just more. I often joke that it takes the energy of five transactions from five years ago to close one today. Buyers and sellers both contribute to the disconnect: buyers continue to feel the pressure of unaffordability, while sellers often believe their homes are worth more than the market will support. That is the gauntlet REALTORS have to navigate every day.
The overall economy feels fragile, and most clients I have agree with that statement. Every day, goods and services are too expensive. It takes more money for far less stuff. And this is creating real pressure, and it is felt in our industry along with others. Social media shows the strain as well. Just food inflation is up 27.3% since 2021. Financial pressure is part of the overall trend and until consumers feel confident in their future, I worry the trend will continue to be a very stagnant real estate market.
The real pressure in real estate right now is in the townhome and condo market. An area that was once considered entry-level housing has become almost a toxic asset as HOA’s have to deal with ever-increasing insurance and now Fannie Mae and Freddie are changing their finance rules on condos. We can see this play out locally when we see new listings for townhome/condos were down 9.7% and pending sales decreased by 9.5%. I have a number of condos and townhomes on the market, and the price reductions on those to get them sold while we try to compensate for HOA dues that have gone up 100% in some instances is a real issue.
The remainder of 2026 is likely going to be slow as school starts, summer winds down and we head to the holidays. Sellers will have to be realistic to get their homes sold knowing buyer demand is slow, and buyers continue to head to renting homes because home buying, along with all other costs, has become so unaffordable since 2020. REALTORS are going to have to be very good at educating the public on their particular area and how that local economy is going or they will have listings with no buyers. I personally am hunkering down for what appears to be a long, cold winter in real estate.
Patrick Muldoon
I have many interests and hobbies to supplement my busy career in real estate. Although I enjoy my work I also enjoy finding free time to enjoy the most important things in life. This includes being w....
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