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
October Market Blog-We Need Buyers and Affordability
Dated: November 19 2025
Views: 77
October ushered in ghosts and ghouls, and our weather began to change. It was interesting to see that listings increased by 10.5% across all properties in a time that we usually see homes pulled from the market. Sold listings dropped 12.4% and median prices pulled back 1.1%. We edged up on months of supply in both townhome/condos and single-family homes.
REALTORS in the area acknowledge that the townhome/condo market is having problems due to higher insurance costs, causing higher HOA dues, putting pressure in that area of the market. Property managers are sitting on the most vacant homes they have had in a decade and are now offering incentives to get them rented. During past slowdowns if a seller could not sell, they rented and usually got their payment covered, or close to it. Today, a seller who cannot sell tries to rent only to find out they are still upside down 500-1000 dollars. Rents are dropping as apartments offer out incentives, and now property owners must in order to compete.
The FED did get a rate drop in and in response mortgage rates increased. Debt at all levels is at historic highs and loan delinquencies continue to rise across automobiles, credit cards, and student loans. December will likely see another quarter point drop, but that doesn’t seem to be relieving higher rates in the mortgage world. The 10 years continues to be sticky. Layoffs continue to show up in headlines. Amazon being one of many big names. Fannie Mae announced a recent poll suggested 70% of consumers feel it’s a terrible time to buy. That is an issue for housing. As the economy continues to struggle, housing is also feeling that pain. Hopefully, we get some relief soon.
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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