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
June CAR Report-Market Continues To Be HOT!
Dated: 07/23/2019
Views: 287
“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 higher as well. This push has made much of the area unaffordable to many locals just trying to get into housing. Coupled with a tight rental market and you can understand the frustration in the buyer/tenant pool. And, house prices continue to outpace job income growth. This may be one reason Colorado Springs was listed as one of four Colorado cities most likely to be on the verge of a housing crisis in a recent MSN Money article. Sellers are jumping for joy while selling their homes yet, they are frowning if staying in the local market and trying to find housing themselves.
“Nationally, you are hearing pressure from the White House to have the Federal Reserve bring rates down which should be the canary in the coalmine. If the national economy was truly doing so well, rate drops would not be needed. So, look for more updates on that as we progress into next month. We are very likely to see rate drops by the end of August.
“Worldwide the central banks are tackling slowing economies. Trade wars with numerous countries continue to be on everyone’s radar and you can add Duetsche Bank running into recent problems as well. Whether or not any of the bad news that is out there affects the local market remains to be seen. At this time, locally, we remain robust on the housing front,” 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....
Latest Blog Posts
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 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 name 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.
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 the Pikes Peak Realtor Services Corp.
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
