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
Home Prices Ease, but Buyers Do Not Step Up
Dated: September 23 2025
Views: 126
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 sold stayed level. We slid into Fall without any real changes in the market. But what may be ahead could be a cold Winter in real estate. As we get ready for the pumpkin spice season, it seems buyers are also snuggled in and not motivated to buy into one of the better buyers markets we have seen in a long time. Let’s discuss that.
Although rates did ease a bit, mortgage applications fell 34% from pre-pandemic levels which put us worse off than even the great financial crisis of 2008. We are witnessing consumer confidence and affordability issue that we cannot shake. And this affects retail sales, freight, manufacturing, and the fast-food market. Consumers drive the economy, and right now they are not motivated at many levels, and this includes housing in our region and across much of the United States. What was a low inventory issue during the pandemic has now become too much inventory during all of 2025. Despite it appearing to be more in balance, we just don’t have the demand we would like to see. Sellers are having to be more aggressive on pricing, and buyers will then still end feedback that the home is priced too high.
By the end of August, everyone was talking about rate cuts in September. The FED is set to meet, and my guess is with recent data there is a good chance of a 50bps drop in the FED rate. While many will cheer this move, and I believe the equity markets will celebrate with new highs being hit, I don’t believe this is going to motivate buyers very much. Watching social media posts from local lenders and seeing the feedback by would-be home buyers, they are not engaged in housing at these prices. Consumers move markets and if the local buyer pool believes home prices and our payments are too high, that will have to change before we see buyers really stepping up. As I write this, a massive revision to job creation hit and PPI came in lower than expected. The FED will have to move because the economy along with the job market is showing signs of weakness that we cannot afford at this time. The FED could be 6 months late to these drops now that we have revised job data and that doesn’t look good for our economic future.
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....
Latest Blog Posts
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
COLORADO SPRINGS“We had a little bit of stabilization in May across the front range as sold listing increase 8% year over year, added slight value (0.8%) to the median sales price, and watched
“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
The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO©. Real estate listings held by brokers other than Muldoon Associates, Inc. are marked with the IDX Logo. This information is being provided for the consumers' personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. September 23, 2026 11:45 AM UTCd
The real estate listing information and related content displayed on this site is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by elevateMLS.
Pueblo Association of REALTORS®, Inc. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be
Information should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended. Copyright ©2026 All rights reserved.
