Are We In A Market Shift?

Dated: June 12 2021

Views: 168

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 to get out and spend it. Bars and restaurants are full, theme parks across the country are coming back online and the cruise ships are ready to hit the high seas with passengers again. Summer could not come fast enough after the cold, dark, COVID winter. 


“But wait, housing never even realized COVID-19 hit nor that we had a winter. And as spring came around, housing sprung up like the newly blooming flowers and just kept picking up steam through April and into May where we experienced a 22% increase in median price over the previous year and we fell more than 60% in active listings. Cash offers, appraisal gaps, escalation clauses all were in full swing as the snow melted and the rains began. 


“The question many ask is how long this goes and do these high prices continue? The FED is starting to give hints that interest rates will have to come up with inflation beginning to creep in. And many would argue that inflation did not creep in, it jumped in with both feet and is now crushing the middle class with higher prices in many areas of our lives. Food prices, car prices, housing and many other areas of our lives affected by higher costs and yet are not included in the inflation numbers.


“Summer is going to be hot in both temperature and housing if interest rates and inventory stay low. If either of those change, we can expect that to work itself into the housing market quickly. Personally, I do not see how the FED raises rates. The economy now is being run on cheap money and any change to that will end the ‘fun.’ So, summertime in the Rockies will be filled with concerts, fairs, and a tight housing market,” said Colorado Springs-area REALTOR® Patrick Muldoon.

Blog author image

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

Falling leaves but NOT falling prices.

“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,

Read More

Accessory Dwelling Units(ADU'S)

Blog: Short-Term Rentals Trend Upward, But At What Cost to Neighborhoods? There’s a trend happening in Colorado housing, that isn’t so

Read More

Does Fall Bring a Fall in Housing??

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

Read More

August keeps the heat on with housing.

“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?

Read More