“I have to admit, even I am a little shocked at how fast the market decided to change. It is like we had a really hot summer day and a few days later, a blizzard. One weekend we were

Dated: July 23 2019
Views: 376
“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.
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....
“I have to admit, even I am a little shocked at how fast the market decided to change. It is like we had a really hot summer day and a few days later, a blizzard. One weekend we were
“Patience is a virtue, they say. And for the buyers who sat on the sidelines, whether on purpose or because they could not swing the insane real estate market, it is going to pay off. As a
Is the party over? It reminds me of the song by Semisonic, Closing Time. It’s been a good run, lots of fun had by all, but at some point the party stops, the lights turn on and you
“Spring has sprung, and housing has too. The resilience of the housing market remains steadfast as April brought more appreciation to an already unaffordable market. We stacked up another