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
Spring Starts Off Sluggish
Dated: May 13 2025
Views: 233
“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 are finding a lack of buyer demand. And this is a trend in other areas across the state and the country. Total housing inventory was up 8.1% month over month in April nationwide and 20% year over year, and yet house prices remain elevated.
“U.S. home prices are slowing down. There was an increase of just 4.5% year over year in the first quarter of 2025, which was the smallest increase since Q3 2023. Are we beginning to see that flip now? We are in April, what would typically be the start of the spring selling season, and homes are sitting. Sellers in certain price ranges go weeks without a single showing. Key indicators may now be at play. Q1 2025 showed negative GDP growth, and the New York Empire State Manufacturing index fell 8.1 points in April, recording the third negative reading in 2025. Are the trade wars being felt by consumers, or is this a carryover from last year when economic weakness started to creep into the economy and tariffs are beginning to now show that weakness?
“As a veteran agent of 30 years, I can honestly say I have never seen a housing market like this. We continue to be able to sell the upper-end homes and yet, the entry level homes are sitting and often withdrawing from the market. The NED (Notice of Election and Demand) list locally is beginning to increase dramatically. Showing that economic pressures are beginning to be felt by consumers. And as of the writing of this report, we have over 100 short sales on the MLS. Something that was just a myth 18 months ago. Sellers will have to be serious about price and condition to stick out among this added competition, and even then, may find that buyers opt to rent than buy until everyone is more secure about what the economy is doing,” said Colorado Springs-area REALTOR® Patrick Muldoon.
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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