Real Estate Information

July 9, 2026

 

HARRY’S BI-WEEKLY UPDATE

         A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

TODAY’S housing market NEEDS A BIT OF EXPLAINING, SO HERE YOU GO…

Data provided by KeepingCurrentMatters, 7.1,26

I’ve had more questions than usual about “timing” when it comes to either buying or selling in today’s Residential real estate market and I thought I’d try to set a couple of things straight for those looking to buy or sell at present.

There’s been a bit of “doom and gloom” about the housing market lately.  High rates.  Budgets already stretched tight.  And more. 

While the headlines make it seem like buying or selling right now is a terrible idea, the data tells a different story.

Yes.  Let’s face it.  Today is NOT 2020 or 2021 and it was never going to be.  Those were known as the “unicorn years”—historically low interest rates, bidding wars and homes being bought sight unseen before they sold to someone else. 

That kind of market was a once-in-a-lifetime anomaly—not a baseline.

When folks compare it to today, of course it looks rough.

But compared to almost any other housing market in modern history?  This one is holding up very well.

 

Homeowners Are Sitting on A Mountain of Equity

The financial strength of the American homeowner is one of the biggest reasons the market hasn’t cracked.

According to Federal Reserve data, homeowner equity and mortgage debt were nearly identical in 2008 so when someone hit a rough patch they had nothing to fall back on.  That’s what made the crash so bad.

Today?  Nationally, total homeowner equity sits at $35 trillion—drastically dwarfing mortgage debt (see below):

 

 

The gap means most homeowners aren’t one bad month away from trouble.  They own a meaningful chunk of their home and that gives them options.  If they had to sell, many would be able to because they have a cushion and that cushion keeps growing over time.

Realtor.com found that homeowners who’ve been in their home just 5 years have built up around an average of $180,000 equity.  Owning around 6-10 years the average jumps to over $340,000.

Data from ATTOM and the Census shows two-thirds of homeowners either own their home outright or have more than 50% equity.

That doesn’t point to a fragile market.  That’s a whole lot of folks who are financially positioned to sell, stay, or to make their next move from a place of strength rather than pressure.

 

Low Rates and Low Foreclosures

At the same time, Federal Housing Finance Agency (FIFA) data shows more than half of all active mortgages still carry a rate below 4%.  (see below):

 

 

This is a big reason why inventory remains so tight.  Those folks are in no rush to trade their current rate for a higher one.  They’re comfortably in a strong financial position.

That comfort shows up in the foreclosure numbers as well.  Despite a slight recent increase, foreclosure volumes remain dramatically below historical norms, according to ATTOM.  In general, homeowners are not losing their homes in droves because they have equity, breathing room and most have options that keep them out of financial distress.

 

Prices are Stabilizing, Not Crashing

Redfin research indicates the resilience of the market in that home prices are still rising, but the pace has slowed, now closer to 2% year-over-year nationally. (see chart below):

 

 

According to Daryl Fairweather, Redfin chief economist, that showdown is good news:

“We’re in the middle of a long-term housing market correction, not a market crash.  After the pandemic-era frenzy sent prices soaring and inventory to historic lows, the market needs a reset.”

So, for those of you who have been worried and asking me what I think is going to happen, please know the market isn’t broken and waiting to for a crash that is not going to happen is actually costing you in the long run. 

Every month spent on the sidelines is a month someone else is building equity, locking in a price, and getting ahead of what most experts expect to be a housing surge once broader economic conditions settle.

If you’ve been waiting for any of the above reasons and are ready to explore the possibilities of a move, together we can construct a plan that fits your family’s individual wants, needs and budget requirements.

And the earlier you begin the process the sooner you will be seeing a return on your investment.

 

Call me today at 719.593.1000 or email me at Harry@HarrySalzman.com and let’s see how you can achieve your Residential real estate dreams.

 

And now for statistics…

 

JUNE 2026

Statistics provided by the REALTORS Service Corp., or it’s “elevate” MLS

Here are some highlights from the June 2026 “elevate MLS” report.   

(As an aside to avoid confusion, the “Pikes Peak MLS” has been renamed “elevate MLS” and you will note me referring to it as such from here forward.  Same organization, new branding.) 

 

In El Paso County, the average days on the market for single family/patio homes was 42.  For condo/townhomes it was 51. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.3% and for condo/townhomes it was 98.6%. 

 

In Teller County, the average days on the market for single family/patio homes was 76 and the sales/list price was 98.3%.

 

Please click here to view the detailed 10-page report, including charts.  If you have any questions about the report or to find out how it relates to your individual situation, just give me a call.

 

In comparing June 2026 to June 2025 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 1,858, Down 0.6%
• Number of Sales were 1,229, Up 2.7%
• Average Sales Price was $577,638, Up 1.2%
• Median Sales Price was $499,900, same
• Total Active Listings are 4,039, Down 0.4%
• Months’ Supply is 3.3

 

 

Condo/Townhomes:

• New Listings were 290, Up 16.0%
• Number of Sales were 149, Up 2.1%
• Average Sales Price was $349,354, Up 0.4%
• Median Sales Price was $325,000, Down 1.5%
• Total Active Listings are 764, Up 13.5%
• Months’ Supply is 5.1

 

Now a look at more statistics…

 

JUNE 2026 MONTHLY INDICATORS AND LOCAL MARKET UPDATE ILLUSTRATE OUR LOCAL TRENDS IN DETAIL

Colorado Association of REALTORS^{® ,} Pikes Peak REALTORS Service Corp, or it’s “elevate”MLS

Providing greater detail than the above report, this contains information on both El Paso and Teller counties for Residential real estate. 

The “Activity Snapshot” for all residential properties in El Paso and Teller counties shows the Year to Date one-year change:

 

• Sold Listings for All Properties were Up 3.8%

 

• Median Sales Price for All Properties was Down 0.5%

 

• Active Listings on All Properties were Down 2.4%

 

You can click here to read the 16-page Monthly Indicators or click here to get specific information on the geographical are of your choice from the 18-page Local Market Update.  It’s a good idea to check out your own area or one that you might be considering to get a good idea of the local pulse.  As an example, here is a detailed report on the Colorado Springs area:

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, June 2026

As always, I like to share the useful data I receive from our “local economist”, Tatiana Bailey.  You will see in these charts what’s happening locally in terms of the economy as well as the most recent Workforce Progress Report.

This information is especially invaluable to business owners; however, I know you will find it worthwhile reading.

Below is a reproduction of page 6 of the graphics which details real estate. To access the full report, please click here.  And if you have any questions, give me a call.

 

 

June 26, 2026

 

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

 

SALES MAY BE SLOWER THAN NORMAL, BUT HOME VALUES CONTINUE TO RISE

With the spring buying and selling season officially transitioned to “summer” as of this week, sales are still generally sluggish, and folks are apparently still waiting to see if rates will go down. 

All the while, home values continue to rise, although at a healthier rate than during the frenzy of several years ago.

What does that mean if you are in the market but have been “on hold”?

Well, waiting is going to cost you in the long run.

Yes, interest rates ARE higher than three or four years ago, or even last month, but they are likely to remain in the 6%-6.75% range for the foreseeable future. 

However, home values are not going to remain as they are today based on what we have seen recently, as well as traditionally.  They may not rise as quickly as they did three or four years ago, but they will continue to appreciate. Therefore, the longer you put off making a purchase, the more you will be paying for a new home.

High home prices, along with higher than previous interest rates, are most definitely hurting first time home buyers when it comes to qualifying.  I’ve seen a few first timers getting into the market only due to the help of family member or friends. 

If you have been wanting to sell to trade up or move to a new neighborhood, you likely have more equity in your present home than you might imagine to use toward a down payment on a new home.

And another thing we’re seeing is that just because mortgage rates are listed at a certain price, there are many options to consider that could bring down the rate and thus lower your monthly payment.

But you won’t know any of this until you give me a call.

I’ve been in the local Residential real estate arena for 53 years and that, along with my Investment Banking background, gives me a heads up in my ability to help my clients find not only the best home options for their wants, needs and budget requirements, but I can also help by directing them to lenders who have various options to fit their specific needs.

I provide my clients strategic solutions to whatever their Residential real estate needs and my expert negotiation skills go a long way to make certain they get the best deal possible, whether buying or selling.

Give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com  and let me help you make your Residential real estate dreams come true.

 

 

HOME SALES ARE EXPECTED TO IMPROVE IN SECOND HALF OF 2026

The National Association of Realtors, 6.16.26

Lawrence Yun, chief economist for The National Association of Realtors (NAR), spoke at the NAR  Residential Economic Issues and Trends Forum last week and said that provided inventory and housing supply continue to expand, home sales are expected to be modestly better in the second half of 2026.

NAR’s current forecast calls for existing-home sales to rise 4% this year, with the median home price also climbing 4%.  Mortgage rates are projected to average 6.5% in 2026. 

Yun said that housing wealth accumulation will continue in 2026, with the typical homeowner gaining approximately $16,000 in wealth this year.

As I also alluded to earlier, Yun said, “Homeowners will continue to build wealth, while renters are simply spinning their wheels”.

Something I personally found interesting was Yun’s long-term projection, running multiple scenarios to estimate when the national median home price—currently $430,000—would reach $1 million.  Each scenario pointed roughly the same answer:  in about 25 years!

To illustrate the power of long-term appreciation, Yun noted that the national median home price was just $90,000 in 1990.  Even San Francisco, considered super expensive at the time, had a median price of only $250,000.

Also speaking at the forum, Dr. Jessica Lautz, NAR deputy chief economist and vice president of research, focused on who is actually buying homes right now despite the challenging market. 

Lautz said the housing market may feel like it’s in gridlock, but that is not a universal experience.  Distinct buyer segments are actively purchasing, whether driven by necessity, determination or housing equity.

“I’ve been traveling around the nation this year and I am hearing a lot from you that it’s a wonky market,” she told the audience.  “You’ll list a home on the market and sometimes it’ll sit for months.  And sometimes it’s going to have multiple offers, and they can be next door to each other”.

She emphasized that “misinformation is out there”, noting that many potential buyers still believe they need a 20% down payment while the typical down payment for first-time buyers was just 10% last year.

So once again, each client is different and each buying a selling situation is as well.  It takes someone like me who has a lot of experience dealing in all kinds of buying and selling scenarios to get you through what can look somewhat like a maze. 

If you’ve even considered a move, or want to buy for the first time, give me a call sooner than later and let’s see how we can make things work in your favor.

 

 

TWO BIG REASONS TO MOVE THIS SUMMER

KeepingCurrentMatters, 6.11.26

Once again, with rates not expected to change much, it may not pay to wait as there are some things you could be missing in the meantime.

Historically, summer is one of the strongest seasons of the year for both buyers and sellers and if you delay your move until fall or winter, some of those opportunities could already be fading.

 

Buyers:  Fresh Inventory Is Your Real Summer Advantage

One of the biggest frustration buyers have faced over the past few years has been a lack of affordable options.  You might have seen that yourself:

• You find a house you like, but it’s out of your budget
• You find something in your budget, but you don’t like it
• Or worse, nothing interesting hits the market for weeks.

Historically, summer helps with that.  Looking at data from the last few years, summer months consistently bring more sellers into the market than later in the year.  And that gives buyers a real window of fresh choices.

According to realtor.com, any given summer month typically sees about 32% more fresh options than the average month from September-December.

With more newly listed homes, there’s a better chance of finding one you like where the numbers actually work.

But keep in mind that this seasonal window isn’t open forever.  Fresh inventory tends to slow down once summer ends.

Every year is different but if finding the right home at the right price has been your biggest challenge, waiting until later in the year may not necessarily give you more options.  In fact, recent history suggests it may do just the opposite.

 

Sellers:  Homes Usually Sell for More in the Summer

If you’re thinking of selling, you may be holding off because you’ve seen headlines about lower asking prices, price cuts and softer conditions.  But those headlines don’t tell the whole story or convey how it varies by location.

What you really need to know is that even though the market’s becoming more balanced and some areas are experiencing price declines, that doesn’t mean you’ve missed your chance to sell.

Seasonality can still work in your favor, and summer could still give you the chance to sell for a good price.

According to NAR, homes sold during a summer month usually sell for about 4% more than homes sold during the typical month from September-December.

Summer buyers are usually operating on a set timeframe.  They want to move before a new school year or when they have warmer weather to tour homes.  That urgency can translate into better offers.

That doesn’t mean you should price your home 4% higher in the summer as that would actually be a mistake in today’s market.  It just means if you’re looking to get as much for your house as you reasonably can, a summer move could be a smarter plan than waiting for later in the year.

Based on typical seasonality, you may get more for your house than if you waited until the fall or winter, and if you’re considering a move anyway, that’s worth factoring in.

Bottom Line?  If you have any questions about summer buying or selling, simply give me a call.

 

 

ERA SHIELDS STAT PACK

Data through May 2026, ERA Shields

Here is the newest data from my company’s monthly “Stat Pack” that can better help you understand the local buying and selling reality.  I have reproduced the first page, and you can click here to get the 5-page report in its entirety.

 

June 5, 2026

 

HARRY’S BI-WEEKLY UPDATE

         A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

MORE OF THE SAME, BOTH GOOD AND NOT QUITE AS GOOD

We are now right smack in the middle of the spring buying and selling season and it’s not looking great for either buyers or sellers at present.

The good news is that home values are continuing to rise.  In fact, just last week the April realtor.com Luxury Housing Report indicated that Colorado Springs is #4 in the “Top Emerging Luxury Markets”. 

I was just as surprised as I’m sure you are reading this, but apparently, it’s true.  This is based on the listing, not selling prices, but as you will see in the statistics below, our homes are selling for real close to listing price when that price is realistic to begin with.

For someone who has lived here for more than 50 years and having been in Residential real estate for 53 of those years, it’s hard for me to wrap my head around that.  But, considering how we have fared much better than most of the country in home appreciation over the last 10 years I suppose I shouldn’t be surprised.

According to the survey, in Colorado Springs the 10% most expensive listings start at $1,003,594 and 17.8% of our listings are over $1,000,000.  Sound crazy?  Wait another 20 years, and with the rate of appreciation we have seen, who knows what our homes will be selling for.

Now let’s talk about how this can translate to you, my friends and clients.

For most folks, homeownership is their most significant financial investment.  As we’ve seen over the long haul, home appreciation has surpassed the gains from the stock and bond markets.  What does that mean?

Each and every day your home is working to create long term wealth for you and your family.  And as you pay down your mortgage, you are also building equity along with that appreciation.

While homes are most definitely more expensive than they’ve been, they are also cheaper than they will be in the future. 

Most all economists have been saying that home values are not going down and should continue to appreciate, although at more realistic values than during the housing frenzy of several years ago.

That means if you have waited to sell to trade up or move to a new location because of the higher interest rates, each day you wait is costing you in terms of home appreciation.  And if you are renting, your monthly payments are helping your landlord see returns on their investment.

So, yes, the current market is not for the timid or inexperienced, but fortunately you’ve got me.

If you’re ready to explore the possibilities of a move, together we can construct a plan that fits your family’s individual wants, needs and budget requirements.

And the earlier you begin the process the sooner you will be seeing returns on your investment.

Call me today at 719.593.1000 or email me at Harry@HarrySalzman.com and let’s see how you can achieve your Residential real estate dreams.

 

And now for statistics…

 

 

MAY 2026

Statistics provided by the REALTORS Service Corp., or it’s “elevate” MLS

Here are some highlights from the May 2026 “elevate MLS” report.   

(As an aside to avoid confusion, the “Pikes Peak MLS” has been renamed “elevate MLS” and you will note me referring to it as such from here forward.  Same organization, new branding.) 

 

In El Paso County, the average days on the market for single family/patio homes was 39.  For condo/townhomes it was 61. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.3% and for condo/townhomes it was 98.6%. 

 

In Teller County, the average days on the market for single family/patio homes was 58 and the sales/list price was 98.4%.

 

Please click here to view the detailed 10-page report, including charts.  If you have any questions about the report or to find out how it relates to your individual situation, just give me a call.

 

In comparing May 2026 to May 2025 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 1783, Down 12.9%
• Number of Sales were 1,251, Up 7.3%
• Average Sales Price was $577,202, Up 1.9%
• Median Sales Price was $499,952, Up 2.0%
• Total Active Listings are 3,667, Down 0.1%
• Months’ Supply is 2.9

 

 

Condo/Townhomes:

• New Listings were 256, Down 5.9%
• Number of Sales were 144, Down 13.3%
• Average Sales Price was $343,824, Down 5.7%
• Median Sales Price was $337,500, Down 1.0%
• Total Active Listings are 726, Up 15.4%
• Months’ Supply is 5.0

 

Now a look at more statistics…

 

MAY 2026 MONTHLY INDICATORS AND LOCAL MARKET UPDATE ILLUSTRATE OUR LOCAL TRENDS IN DETAIL

Colorado Association of REALTORS^{® ,} Pikes Peak REALTORS Service Corp, or it’s “elevate”MLS

Providing greater detail than the above report, this contains information on both El Paso and Teller counties for Residential real estate. 

The “Activity Snapshot” for all residential properties in El Paso and Teller counties shows the Year to Date one-year change:

 

• Sold Listings for All Properties were Up 8.0%

 

• Median Sales Price for All Properties was Up 0.8%

 

• Active Listings on All Properties were Down 2.0%

 

You can click here to read the 16-page Monthly Indicators or click here to get specific information on the geographical are of your choice from the 18-page Local Market Update.  It’s a good idea to check out your own area or one that you might be considering to get a good idea of the local pulse.  As an example, here is a detailed report on the Colorado Springs area.

 

THE TRUTH ABOUT AFFORDABILITY TODAY

KeepingCurrentMatters, 5.27.26

Let’s get real about affordability because you deserve transparency and honesty about what’s going on, most especially if you have a move in your future.

Here’s the full picture of what’s happening and why.  While rates are certainly a big part of affordability, they’re not the only factor at play.

 

Mortgage Rates Have Been Rising

After more than a year of rates trending down, they’re started to climb a bit again.  And if you’re looking to buy, that’s not what you want to see.  But it HAS happened and here’s why.

Uncertainty is the enemy of mortgage rates. 

With the lingering global uncertainly, ongoing tensions in the Middle East and inflation refusing to fully cool off, there’s a lot that’s affecting mortgage rates.  As Colin Robertson, founder of The Truth About Mortgage said, “You can’t have $100 a barrel oil and not expect inflation to rise, which translates to higher bond yields and mortgage rates”.

The graph below used data from Mortgage News Daily and shows just how much all of those factors have had an impact:

 

 

It’s a sharp contrast from where we’ve been in a relatively short window.  And it could make you wonder: Should I just wait this out?  Will rates fall when the uncertainty eases?

It’s possible, but it all depends on how the ongoing geopolitical conflict plays out and whether inflation continues to run hot afterwards--and for how long.

Rates probably aren’t heading down until both of those things improve.  And when that does happen, most experts agree that rates won’t be dramatically lower—maybe in the low to mid 6% range.  That’s reality and worth knowing if you are wanting to buy now.

So, should you wait for lower rates? The general consensus is, if you can afford to buy and you find a home you like, it’s still worth it, as I mentioned earlier. 

No one knows for sure when rates will start to come back down—but we do know that home values will continue to rise—and quite honestly, how long do you really want to put your life on hold?

 

Wages Are Outpacing Home Prices

There’s no shortage of headlines about the cost-of-living outpacing checkbooks and it’s a legitimate concern.  But here’s what doesn’t make the headlines. It’s not all bad news.

Data from the Federal Reserve Bank of Atlanta and Redfin shows wages have actually been growing faster than home prices.

• Recently, wages have been increasing at around 4% year-over-year.
• And home price growth is closer to 2% year-over-year.

As a buyer, you want your income to rise faster than prices because that helps make your purchase more manageable financially, and it quietly chips away at the affordability over time.  That’s exactly what we are seeing lately, and every little bit is going to help.

A big reason that wages have been gaining ground on home prices is that home prices have stayed fairly steady.

Check out the graph below.  It shows national home price data from the National Association of Realtors (NAR) over the past four years.  You will see there’s been no dramatic runup, and no crash either.  Just relative stability and slow growth.

 

 

Part of what’s keeping prices this stable is that buyers finally have more choices than just several years ago.  That means less competition, more negotiating power and more time to find the home that is just right for your life, not the one you had to grab sight unseen with bidding wars as well.

Even with today’s rates, you now have a chance to find something that can work for your wants, needs and budget along with the time to make a careful decision.

So, once again, you won’t know how this can work for you and your family until you give me a call and we come up with a plan for your individual situation.

If you’ve been waiting, you owe it to yourself to find out how you can make things work for you today. 

I look forward to speaking with you.

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, May 2026

As always, I like to share the useful data I receive from our “local economist”, Tatiana Bailey.  You will see in these charts what’s happening locally in terms of the economy as well as the most recent Workforce Progress Report.

This information is especially invaluable to business owners; however, I know you will find it worthwhile reading.

Below is a reproduction of page 6 of the graphics which details real estate. To access the full report, please click here.  And if you have any questions, give me a call.

 

UCCS ECONOMIC FORUM MONTHLY DASHBOARD  

Updated May 2026, UCCS College of Business/Economic Forum

Here is the monthly report from the UCCS College of Business Economic Forum.  It is created by professor Dr. Bill Craighead, who is the Forum Director.  He also publishes an on-line “Weekly Economic Snapshot” you might enjoy.

I know several of you who like statistics and use this information in your daily business life, and I will share it with you when I receive it each month. 

I’ve reproduced the first page of the charts below.  To access the report in its entirety, please click here. 

 

May 28, 2026

 

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

IN UNSETTLING TIMES, THERE’S NO PLACE LIKE HOME

With much uncertainty and more questions than answers in today’s world, it’s sometimes nice to just stay embraced in the warmth of your home. If you have any doubt, just watch The Wizard of Oz and ask Dorothy.

And that’s why Residential real estate is so important.  Maybe now more than ever. 

We all need a place to call “home” and in recent times it’s been a bit harder for some to find that perfect fit for them and their families.

Owning a home has always been a milestone in some ways and it’s also been a way to build family wealth through appreciation over time. 

These days, and most especially for first-time buyers, it can often seem like the perfect home is a bit out of reach. 

But that doesn’t have to be the case.

Yes, interest rates are higher than they’ve been in a while and homes are not getting any less expensive.

But I’ve found over time that what may seem like an impossibility is not always so.  It can often be an opportunity.

It is currently a buyer’s market which can be a great time to begin your search if you’ve put off looking for a new home. 

Just a few years ago I had folks who had to purchase a home sight unseen while dealing with bidding wars and all-cash buyers who got there first.  Not so today.

The ability to have the time to search for just the right fit is here now and there’s no guarantee of how long that will remain.  Seller concessions that were unthought of just a few years ago are often available.

Homes prices are continuing to rise so the longer you put off a purchase you’ve been wanting, the more it’s going to cost you. 

Even when the interest rate is higher than you may like, the sooner you buy, the sooner your new home can start earning equity for you. 

After all, real estate is a long-term investment that helps provide wealth for you and your family. If you rent, you are simply paying someone else’s mortgage and allowing them to earn equity on that property.

If you have been waiting for the “right” time, you might want to rethink that and see if the home you want is within reach today.

That’s where I can help. 

My 53 years in the local residential real estate arena, coupled with my investment banking background, give me an edge that my clients have found to be crucial in helping them and their families realize their personal real estate visions.

I can also help steer you in the right direction to discover various mortgage options that can work for your individual situation.

There are a lot of pieces to the Residential real estate puzzle, and I know how to solve most all of them or can introduce you to someone who can, when appropriate. 

But you won’t know any of this until you give me a call.

After all, there really is “no place like home” and finding the one that’s just right for each and every client is my one and only goal.

Give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com  and let me help you make your Residential real estate dreams have a happy ending.

 

ARE HOME PRICES GOING TO FALL?

Keeping Current Matters, 5.18.26

One of the biggest holdups and concerns for many potential buyers in this current market is this: “What if I buy and home prices go down?”

While this concern certainly makes some sense when contemplating a big financial decision, here’s what’s important to know.  You don’t want to get hung up on home values staying essentially flat at the moment.

When you look at the big picture, home prices usually rise over time.

Check out the graph below.  It uses data from Case-Shiller and Bilello to show how home prices have changed year by year going all the way back to the 1950’s and here’s the key takeaway:

Outside of the housing crash, home prices have either held steady or increased in just about every year for decades.

 

While short-term shifts can happen, it’s the long-term gains that really matter.

 

Why Prices Tend to Rise Over Time

There are a few core reasons prices usually go up each year:

 

• There are always people who need to move.  People need a place to live and that demand will never fully go away.  It may ebb and flow, but someone always will have to move as big changes happen in their life.  Therefore, homes stay in demand.

 

• There still aren’t enough homes for sale.  While the number of homes for sale has grown nationally and here in Colorado Springs there is still an undersupply based on how many people want a home.  That keeps the upward pressure on prices.

 

• Inflation has an impact.  Over time, the cost of goods (including homes) naturally increases.  That pushes home values higher.

 

What That Means for You as a Buyer

It’s easy to get caught up in what might happen with home prices next year or next month, especially if you or a family member are a first-time buyer and feeling anxious about making such a substantial financial commitment. But the big picture is clear.  Prices usually rise.

That’s not to say prices will always go up every single year in every single market.  But as I’ve always said, real estate is local and there can be short-term ups and downs in all geographical markets.  We’ve seen that here in the Springs recently and you can see it in the chart above.

But historically, the declines have been temporary.

That’s why it’s generally a good idea to buy a home if you plan to stay awhile—typically at least 5 years.  That’s normally enough time to see your home grow in value and enough so you can ride out any short-term changes in the market.

Because when you can do that those rising home values grow your net worth and by extension, help you build wealth. 

The right decision isn’t about timing the market perfectly because, as I’ve said time and again—it’s very rare to buy at the lowest and sell at the highest.  It’s about making a move that works for your life and staying in it long enough to benefit from the bigger trend.

 

Bottom Line

Home prices have a long track record of going up over time, even better than stocks and bonds.  That’s why buying a home is generally considered a safe long-term investment.

Whether you buy now or wait, it’s always good to discuss your wants, needs and budget requirements much in advance of starting your search. 

Give me a call today and together we can determine if now is the right time for you to begin the process of finding a new home for you and your family.

 

 

THE TRADITIONAL SPRING BUYING AND SELLING SEASON IS SHAPING UP TO BE A BUST

Homes sales are down all across the country and what is the “traditional” spring buying and selling season for Residential real estate is falling flat at present.

Nationally, sales in April rose 0.2% while locally sold listings for all properties in El Paso and Teller counties rose 1.8%.  Sales are better here, but as you can see, they are quite slow for this time of year thus far.

Those figures are for existing home sales and while I don’t have the exact figures on sales of newly constructed homes, I can tell you that it appears that existing home sales are going to be more affordable than new homes for the time being.

Copper, lumber, diesel and aluminum prices are going through the roof (literally) and making it difficult for new home builders to keep costs down on new construction.  Consider that the typical U.S. house contains more than 400 pounds of copper among its electrical wiring, plumbing, appliances, hardware and brass fixtures.

“Input prices have risen more during the first four months of 2026 than over the prior three years, according to Anirban Basu, chief economist at trade group Associated Builder and Contractors. “These cost pressures will likely weigh on construction activity over the coming months.”

In addition to boosting the base cost of home building (and remodeling), rising material costs are contributing to the inflation that has pushed up mortgage rates.

Mortgage applications nationally dropped last week to a five-week low as rates are reaching a nine-month high.  However, we are seeing Adjustable-Rate Mortgages (ARMs) surge as borrowers are finding a way into the market by opting for these instead of a fixed-rate mortgage. 

Unlike fixed-rate mortgages that come with a set interest rate, ARMs have variable interest rates.  They allow a borrower to lock in one rate for a set period—five or seven years, for example.  That rate is usually lower than you would get with a fixed-rate mortgage.  After that set time period lapses, the rate will move in line with the market benchmark the lender has chosen.  Many ARMS today offer the opportunity to refinance when the fixed rate gets lowered, however, it’s good to shop around to find the best mortgage type and rate for your individual situation. 

Mortgages are never a “one type fits all” kind of thing, and I can help direct you to some lenders who can work with you to find the best fit for YOU.

 

 

COLORADO SPRINGS RANKS #87 IN THE Q1 2026 FHFA HOUSE PRICE INDEX

The National Association of Realtors, 5.26.26

The recently published FHFA House Price Index for first quarter 2025 lists Colorado Springs as #87 out of the top 100 in home price changes during that quarter.

Nationally, home prices were up 1.7% year-over-year according to the Federal Housing Finance Agency (FHFA) and up 0.5% compared to Q4 2025. 

The Federal Housing (FHFA) House Price Index is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970’s from all 50 states and over 400 American cities.  It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code and census tract levels.

Home prices in 65 of the 100 largest metro areas rose over the previous four quarters while they had risen in 89 of the 100 largest one year ago. 

As you will note, we are still above #92 ranked Denver so there’s that!

Below are copies of the entire list as well as of the Colorado Springs changes.  Any questions?  You know where to reach me.

COLORADO SPRINGS IS RANKED #53 OUT OF 235 MEASURED AREAS IN THE JUST PUBLISHED NAR SURVEY

The National Association of Realtors 5.5.26

In the recently published report from the National Association of Realtors (NAR), single-family, existing-home prices grew in 71% of measured metro areas.  This is down from 83% the previous quarter.

Compared to a year ago, the national median single-family existing-home price climbed 0.5% to $404,300, down from 1.2% annual growth in the fourth quarter.

Also compared to a year ago, the median price of single-family homes in Colorado Springs decreased 1.1% to $459,500 per NAR. This price reflects detached, single-family and patio homes but not townhomes or condominiums. But, as you can see, our median home prices are still considerably higher than the U.S. average.

The median home price in the Springs ranked 53^rd highest of the 228 cities surveyed.  

To see all 235 metro areas in alphabetical order, please click here.  To see them in ranking order, click here.  Or click here to see what income levels are required to purchase homes based on either a 5, 10 or 20 percent down-payment.

If you have any questions, please give me a call.

 

 

ERA SHIELDS STAT PACK

Data through April 2026, ERA Shields

Here is the newest data from my company’s monthly “Stat Pack” that can better help you understand the local buying and selling reality.  I have reproduced the first page, and you can click here to get the 5-page report in its entirety.

 

May 5, 2026

 

HARRY’S BI-WEEKLY UPDATE

         A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

WITH MUCH UNCERTAINTY IN THE WORLD AT THE MOMENT, RESIDENTIAL real estate IS A CONCERN OF MANY

Keeping Current Matters 4.23.26

 

A recent CNBC homebuyers poll asked what they’re most worried about and three themes kept coming up time and time again:

 

• Mortgage rates
• The number of homes for sale
• Home prices

 

Those are concerns I hear about from my clients as well.

However, what you may be reading or hearing is possibly based more on misconceptions rather than facts.  So, let’s break it down and separate fact from fiction.

 

Misconception #1: “I’ll just wait, because mortgage rates are going to fall dramatically.”

Mortgage rates have fallen a bit in the last week, however, forecasts do not show they are going to drop dramatically any time soon.  The most likely scenario is that rates stay somewhere in the low 6% range this year, and that’s not a big change from where they are now. (See below).

 

 

Naturally this depends on where inflation and the economy go from here.  But based on what we know today, waiting for a big drop in rates may not work out the way some folks might have hoped.

And consider this—even with rates where they are today, it’s already more affordable than a year ago—as I mentioned in my last eNewsletter. 

So even if rates don’t change much, it’s still better today than it was.

 

Misconception #2: “There are too many homes for sale right now.”

The number of homes for sale nationally is 8% higher than this time last year and here in Colorado Springs we, too, are seeing more homes for sale.  But that’s actually not a bad thing.  It’s allowing buyers more breathing room to make decisions.  This is something they did not have just several years ago in the time of bidding wars, all cash purchases and buying homes sight unseen before someone else bought them.

What the headlines are focusing on is how this is the most inventory we’ve had since 2019 or how many homes are being built by homebuilders.  And that can make it appear that the number of homes for sale is rising too far, too fast. 

But again, that’s not what the big picture shows. 

Data from realtor.com proves that, even though inventory is up compared to last year, it’s still nearly 14% lower nationally than it was during the last normal housing market (2017-2019):

 

 

While things can vary a lot based on where you live—and everything is “local” as I always say—only 9 states have more inventory than pre-pandemic today.  That’s a key reason why there aren’t enough homes for sale to trigger something like the crash back in 2008.

 

Misconception #3: “Home prices are about to crash.”

This is another one you might have seen or heard.  The confusion is coming from the fact that some metro areas are experiencing slight price declines.  Ours have been somewhat flat but are certainly holding their own.  However, influencers are running with the “prices are crashing” scenario but that’s far from reality.

Most areas are seeing prices rise, not fall.  And that’s because:

 

• Many homeowners aren’t selling because they don’t want to give up the low mortgage rate they locked in a few years ago.  And that’s keeping a lid on how much inventory can grow.

 

• Since inventory is still below pre-pandemic norms, there aren’t enough homes for sale to cause a price crash.

 

• And even in markets with more inventory, some sellers are choosing to pull their homes off the market instead of cutting prices.

 

Those are 3 big reasons prices aren’t headed for a crash.

And it’s important to note that even in markets experiencing mild declines, the drops aren’t enough to cancel out the big gains most homeowners have seen in the last 5 years. (see below)

 

 

That’s not a crash.  It’s just prices moderating after a few record-breaking years. 

As I’ve been saying time and again…the fast growth we saw in the early 2020’s was not sustainable, the low interest rates of those days were not “normal” and it’s not likely we will see them again any time soon, if ever.  Unfortunately for some they set a “mental baseline”, as I like to call it, in the minds of those who did not or could not take advantage of them.

 

Bottom Line:

What you hear or read is not necessarily based on real facts.  I understand why it’s easy to be distracted by all the noise, but after 53 years in the local Residential real estate arena, I’ve seen it all and been through more cycles than you might imagine.

The best advice I can give anyone thinking about those low rates of the past is this: 

While you are wishing for the unrealistically low rates to return, home prices are continuing to rise, and you are losing the ability to build personal wealth in the form of home equity-- each and every day you delay.

Last week, long-term mortgage rates dropped to 6.23%, the third weekly drop.

And speaking of mortgage rates, my investment banking background has helped me provide my clients with a clear advantage when it comes to steering them in the direction of the best options for their individual situations.

Today there are many mortgage options available, as well as discounts and concessions from sellers, banks and builders.

So, yes, the current market is not for the timid or inexperienced, but fortunately you’ve got me.

Together we can construct a plan that fits your family’s individual wants, needs and budget requirements.

And the earlier you begin the process the sooner you will be realizing those dreams for you and your family.

If you want REAL FACTS and more especially how they can work to help you and your family find the “right” home for you, it all begins by giving me a call at 719.593.1000 or email me at Harry@HarrySalzman.com .

 

 

And now for statistics…

 

APRIL 2026

Statistics provided by the REALTORS Service Corp., or it’s “elevate” MLS

 

Here are some highlights from the April 2026 “elevate MLS” report.   

(As an aside to avoid confusion, the “Pikes Peak MLS” has been renamed “elevate MLS” and you will note me referring to it as such from here forward.  Same organization, new branding.) 

 

In El Paso County, the average days on the market for single family/patio homes was 51.  For condo/townhomes it was 54. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.1% and for condo/townhomes it was 98.4%. 

 

In Teller County, the average days on the market for single family/patio homes was 78 and the sales/list price was 96.6%.

 

Please click here to view the detailed 10-page report, including charts.  If you have any questions about the report or to find out how it relates to your individual situation, just give me a call.

 

In comparing April 2026 to April 2025 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 1941, Up 0.9%
• Number of Sales were 1,124, Up 1.6%
• Average Sales Price was $558,220, Down 2.1%
• Median Sales Price was $480,000, Down 2.0%
• Total Active Listings are 3,422, Up 9.8%
• Months’ Supply is 3.0

 

 

Condo/Townhomes:

• New Listings were 318, Up 11.6%
• Number of Sales were 151, Down 1.3%
• Average Sales Price was $351,490, Down 0.1%
• Median Sales Price was $335,000, Down 4.3%
• Total Active Listings are 704, Up 18.1%
• Months’ Supply is 4.7

 

Now a look at more statistics…

 

APRIL 2026 MONTHLY INDICATORS AND LOCAL MARKET UPDATE ILLUSTRATE OUR LOCAL TRENDS IN DETAIL

Colorado Association of REALTORS^{® ,} Pikes Peak REALTORS Service Corp, or it’s “elevate”MLS

Providing greater detail than the above report, this contains information on both El Paso and Teller counties for Residential real estate. 

The “Activity Snapshot” for all residential properties in El Paso and Teller counties shows the Year to Date one-year change:

 

• Sold Listings for All Properties were Up 1.8%

 

• Median Sales Price for All Properties was Down 2.7%

 

• Active Listings on All Properties were Up 6.3%

 

You can click here to read the 16-page Monthly Indicators or click here to get specific information on the geographical are of your choice from the 18-page Local Market Update.  It’s a good idea to check out your own area or one that you might be considering to get a good idea of the local pulse.  As an example, here is a detailed report on the Colorado Springs area

 

ERA SHIELDS QUARTERLY “ON THE HOME FRONT”

Volume 2, 2026

Below is a copy of my company’s quarterly newsletter.  If you have any questions, please give me a call.

 

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, April 2026

As always, I like to share the useful data I receive from our “local economist”, Tatiana Bailey.  You will see in these charts what’s happening locally in terms of the economy as well as the most recent Workforce Progress Report.

This information is especially invaluable to business owners; however, I know you all will all find it worthwhile reading.

Below is a reproduction of page 6 of the graphics which details real estate. To access the full report, please click here.  And if you have any questions, give me a call.

 

UCCS ECONOMIC FORUM MONTHLY DASHBOARD  

Updated April 2026, UCCS College of Business/Economic Forum

Here is the monthly report from the UCCS College of Business Economic Forum.  It is created by professor Dr. Bill Craighead, who is the Forum Director.  He also publishes an on-line “Weekly Economic Snapshot” you might enjoy.

I know several of you who like statistics and use this information in your daily business life, and I will share it with you when I receive it each month. 

I’ve reproduced the first page of the charts below.  To access the report in its entirety, please click here. 

 

April 23, 2026

 

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

NOT TOO MUCH TO REPORT IN THE WAY OF “NEWS” AS IT’S JUST BEEN MORE OF THE SAME…

In what is the beginning of the “traditional” spring buying and selling season, so far we haven’t seen a lot of either.

Yes, there are those who are selling.  And there are those who are buying.  But activity up to now has been slower than expected.

Some of that can be attributed to interest rates and some to the fact that, while we still have an inventory shortage despite more available homes for sale, we are now most definitely in a “Buyer’s Market”. That means potential buyers are in charge and they are taking their time with decision making and asking for concessions that were not on the table just several years ago.

Yes, buyers are “looking”, but they can afford to take their time, and I’ve found that often to be the case  in recent days.

Homes are staying on the market longer and price reductions, sometimes more than once or twice, are becoming the norm.

Nationally, existing home sales showed a 3.6% decrease in March, while inventory increased 3%.  In the National Association of Realtors (NAR)’s “Existing Home Sales Report” for March (released on 4.13), Lawrence Yun, NAR’s chief economist said that “lower consumer confidence and softer job growth continue to hold back buyers”. 

“Inventory remains a major constraint on the market, and the inventory-to-sales ratio, or supply-to-demand ratio, is below historical norms. Because inventory remains limited, the median price nationally rose to a new record high for the month of March and that price growth has helped the typical homeowner accumulate $128,100 in housing wealth over the past six years,” he added.

And that feeds right into my Residential real estate philosophy of which most of you are aware. 

I believe there is no “right” time to buy or sell so it all comes down to what is “right” for YOU and your family.

One thing I know for sure is that it’s not likely we will see home values drop and while homeownership is one of the largest assets for most families, it is also most often the best way to gain wealth over time.  It’s been proven to beat the stock market time and again and that’s not likely to change.

That’s why, even when the interest rate is higher than buyers may like, the sooner a home is bought the sooner it can start earning equity for owners.  If you rent, you are simply paying someone else’s mortgage and allowing them to earn equity on that property. 

And the longer you put off a purchase, the more home values will rise and the more it will cost in the long run.

What you need to know is this:  If you have been waiting for the “right” time, you might want to rethink that and see if the home you want for you and your family is within reach right now.

That’s where I can help. 

My 53 years in the local residential real estate arena, coupled with my investment banking background, give me an edge that my clients have found to be crucial in helping them and their families realize their personal real estate visions.

I can also help steer you in the right direction to discover various mortgage options that can work for your individual situation.

There is more than one way to solve your Residential real estate riddle, and I know most all of them or can introduce you to someone who can when appropriate. 

But you won’t know any of this until you give me a call.

If Residential real estate is among your hopes and dreams for 2026, please give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com sooner than later and let me help make them come true. 

The earlier you begin the process, the sooner you will be realizing those dreams for you and your family.

 

 

IF YOU’RE WONDERING IF YOU SHOULD BUY A HOME RIGHT NOW, HERE’S SOME MORE TO KEEP IN MIND

Keeping Current Matters, 4.13.26

Once again…if you’ve been wanting to move and wondering about global events and the near constant talk about affordability, here’s what you might need to remember.

While recent events do have some impact on the housing market, they don’t take buying off the table.  You just have to use a different strategy.

 

Mortgage Rates Have Been Up Slightly—Here’s Why

After trending down for most of 2025, rates have been higher again for a little over a month now.  Experts say it’s a result of what’s happening overseas and in the broader economy.  As Mark Fleming, chief economist at First American explains:

“Mortgage rates have recently moved higher, driven by geopolitical uncertainty and rising energy costs that are contributing to inflation concerns.”

But what does that actually mean for you?  Do you need to wait for everything to settle back down before you buy a new home?

The short answer is NO.  You don’t need to wait.

 

Your Window To Buy Didn’t Close

Now doubt that a month or so ago, when rates were just under 6%, buying felt a bit more affordable.  And now that rates are hovering around the mid-6’s, monthly payment costs are higher.

But wait a second.

Let’s say you’re taking out a loan for $500,000.  Even with rates in the mid-6’s, you’re still saving roughly $300 on your monthly payment compared to buyers who made their purchase early last year.

That means this recent increase in rates hasn’t erased the progress we’ve seen.  Buying is still more affordable than it was a year ago.  (see below):

 

 

Yes, your monthly payment would’ve been a little less expensive a few weeks back, but hindsight is always 20/20.  And besides, as I said earlier, it’s always the “right” time to buy when you’re ready and once again—the sooner you buy the sooner your home will be earning equity for you.

 

When It Comes To Rates, Expect the Unexpected

Mortgage rates are going to continue to move around in the weeks or months ahead as new information and economic reports come out.

However, try to remember you can’t control global events or where rates go next month (or even next week). 

But…you CAN control how you prepare and if you do that it becomes less about the headlines, and more about your individual situation.

And buyers who do decide to move forward now can find ways to make it work.

For example, you can explore options like adjustable-rate-mortgages (ARMs) which are popular now to help get a lower rate upfront.  That may or may not be right for you, but it highlights that fact that there are strategies that can help you move, even now.

 

What Matters Most is Having a Plan

Once we sit down and see what you want, need and can afford, you will have a much better vision of how to begin.

And I can also help steer you in the right direction for your individual situation when it comes to getting the best mortgage for you.

 

Bottom Line:

Even though there is some uncertainty, that doesn’t mean you are out of options.  It simply means you have not yet met with me to explore ALL of the options that are available to help make your move happen.

 

IS COLORADO SPRINGS EXPENSIVE?

Colorado Springs 2026-2027 relocation Guide, Colorado Springs Chamber and EDC

This is a question I get asked almost daily from prospective relocation folks and from locals as well.  I’ve tried to explain it’s all relative and of course, it is, as it depends on a number of factors and most obviously to where you are making the comparison. 

Oftentimes it is easier to try and ballpark what some of our average costs might be and recently I read an article in the Colorado Springs Chamber and EDC’s “2026 relocation Guide” that had some current cost comparisons that might interest you.  

Colorado Springs has seen the overall cost of living rise in the past few years, along with most of the rest of the country, However, the good news is that our city still has a lower cost of living than most Colorado cities, including Denver and others along the popular Front Range. 

I have reproduced the chart that accompanied the article showing an overview of average costs and expenses.

As you can see, our utility costs are considerably lower than the national average and in the “cost of living comparison” you will see that we are less than 1% higher than the rest of the country.  In the past that could be contributed to our housing costs, but in recent years, while our home values have continued to rise at a more “normalized” rate, our housing costs have decreased and are closer to the national average as new builds and sales inventory continue to balance with demand and interest rates ease.

 

 

HOW TO GET YOUR HOME READY TO SELL

The Hartford Currant, 4.11.26

As I mentioned earlier, the spring buying and selling season is underway and if you are considering a sale, it can be somewhat daunting.

Being able to get the best first impression is critical, and most especially today when homes are taking longer to sell.

Before your home even hits the MLS there’s some work you will want to do to help give it the best first impression.

These are all things I will have gone over with you when we first discuss selling your home, but I thought it might help to give you some tips to think about even prior to that first meeting.

Curb appeal is the first thing a buyer will see either online or in person.  Some things you’ll want to consider are mulching, cutting the grass, washing the house, addressing wood rot issues and cleaning up the shrubs and plants.

From there you need to address any maintenance items—even the small ones.  These can be anything from chipped paint to scruff marks, burned out bulbs or ripped screens.

And make sure to address clutter.  A good rule is that anything smaller than the palm of your hand should be put away. 

Another thing to think about is personalization.  Things such as family photos, collections or sport memorabilia should be out of sight.

Potential buyers want to envision themselves in the home and too many personalized items makes it feel like the seller’s home and not a potential home for themselves.

When it comes to storage space, you can have all the storage in the world, but if it looks packed to the brim and the doors won’t close, that won’t be a selling point because overflowing storage spaces makes it look as though there is not enough storage space.  It is best to move things to the garage or other available areas to give a better look for showings.

Paint is another issue and not just chipped paint.  If the home has neutral colors and it’s in good condition, there is no issue.  Light neutrals are best as buyers can envision their own belongings there instead of being overwhelmed by color.

White, grey or warmer beiges are neutral enough that you aren’t having buyers walking into an alarming color like purple or turquoise. 

Another important thing is to make sure all of your spaces have one purpose.  A bedroom with a treadmill and a desk makes buyers question if the house is too small.  It indicates there is no room for a gym and no room for an office.  You don’t want to remind a buyer of anything negative in the home.

At times it is important to have a “stager” come help you think of things you might miss.  One of the things a stager might do is move your furniture to highlight the home’s best features.  I’ve had several of my clients use a stager for this purpose.  They can also help with furnishing an empty home that’s for sale as it can make the space more inviting for the buyer.

Since many showings are in the evening or on a gloomy day, good lighting is essential to showcase the home. 

You don’t need to update your kitchen or bathrooms before putting your home on the market unless you are doing it for yourself.  Small adjustments can make a big impact like changing out the laminate countertops or updating the backsplash instead of doing a whole kitchen overall.  It won’t look dated and won’t create a huge financial impact either.

Overall, you will want to help potential buyers envision themselves in your home and doing a little bit of prep work before putting it on the market will help sell the home in a timelier manner.

 

April 7, 2026

 

HARRY’S BI-WEEKLY UPDATE

         A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

NOT A LOT OF CHANGES IN THE LAST TWO WEEKS BUT…

…it’s especially important to look at the “big picture” when you’re thinking about Residential real estate.

Yes, rates are rising.  But—they remain below year-ago levels.  Even though rates are back above 6% after dipping below that mark a month ago, they are still lower than this time last year which is still offering some relief for buyers searching for greater affordability.

Volatility in mortgage rates is nothing new historically.  After trending down for well over a year, there was a recent rise.  (see below)

 

 

I understand why it’s easy to be distracted by the changes but after 53 years in local Residential real estate, I’ve seen far greater movement and considerably higher rates.  At a recent lunch with some other folks in the “business” it was mentioned that today’s rates are “low to normal” compared to the past.

It was also noted that unfortunately the “once in a lifetime” low rates of 4-5 years ago set a poor “mental baseline” that will likely never be seen again yet have stuck in the minds of potential buyers who did not or could not take advantage of them.

The best advice I can give anyone thinking about those totally unrealistic rates is this—while you are wishing for the unrealistically low rates to return, home prices are continuing to rise, and you are losing the ability to build personal wealth in the form of home equity each and every day you delay.

It's really that simple.  Rates in the 2%-3% range were historically low and unrealistic.  Period.  And waiting for their unlikely return is costing you more than you might imagine.

However, that’s not to say you must pay the published rates.  It’s important to know you can shop around for the best mortgage, and you can potentially save thousands of dollars by getting multiple quotes and looking at various types of mortgages.

There are several broad categories of mortgage loans, such as conventional, FHA, and VA loans. Rates can be significantly different depending on what type of loan you choose. 

Adjustable-rate loans are also making a significant comeback and worth consideration to keep your monthly payment lower when current rates are higher than you might like.

Other options are loan terms which are typically 15, 20 or 30-years.  Terms will also affect your interest rate, monthly payment and the total amount of interest you will pay over the length of the loan.

Your credit score can also play a big role in the rate you qualify for.

And none of this takes into consideration the possibility of seller or home builder concessions which I’ve seen in recent transactions. 

My investment banking background has helped me provide my clients with a clear advantage when it comes to steering them in the direction of the best mortgage options for their individual situations.

So, yes, the current market is not for the timid or inexperienced, but fortunately you’ve got me.

However, you won’t know anything until you give me a call so together we can construct a Residential real estate plan that fits your family’s individual wants, needs and budget requirements.

If Residential real estate is among your hopes and dreams for 2026, please give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com and let me help make them come true. 

The earlier you begin the process, the earlier you will be realizing those dreams for you and your family.

 

And now for statistics…

 

MARCH 2026

Statistics provided by the Pikes Peak REALTORS Service Corp., or it’s “elevate” MLS

 

Here are some highlights from the March 2026 “elevate MLS” report.   

As an aside to avoid confusion, the “Pikes Peak MLS” has been renamed “elevate MLS” and you will note me referring to it as such from here forward.  Same organization, new branding. 

 

In El Paso County, the average days on the market for single family/patio homes was 58.  For condo/townhomes it was 80. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.1% and for condo/townhomes it was 98.9%. 

 

In Teller County, the average days on the market for single family/patio homes was 68 and the sales/list price was 97.5%.

 

Please click here to view the detailed 10-page report, including charts.  If you have any questions about the report or to find out how it relates to your individual situation, just give me a call.

 

In comparing March 2026 to March 2025 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 1,760, Up 4.9%
• Number of Sales were 1,036, Down 2.2%
• Average Sales Price was $539,720, Down 4.1%
• Median Sales Price was $475,000, Down 4.0%
• Total Active Listings are 3,057, Up 16.3%
• Months’ Supply is 3.0

 

Condo/Townhomes:

• New Listings were 272, Up 6.3%
• Number of Sales were 131, Down 7.7%
• Average Sales Price was $338,333, Down 10.3%
• Median Sales Price was $312,000, Down 14.5
• Total Active Listings are 617, Up 15.3%
• Months’ Supply is 4.7

 

Now a look at more statistics…

 

MARCH 2026 MONTHLY INDICATORS AND LOCAL MARKET UPDATE ILLUSTRATE OUR LOCAL TRENDS IN DETAIL

Colorado Association of REALTORS^{® ,} Pikes Peak REALTORS Service Corp, or it’s “elevate”MLS

Providing greater detail than the above report, this contains information on both El Paso and Teller counties for Residential real estate. 

The “Activity Snapshot” for all residential properties in El Paso and Teller counties shows the Year to Date one-year change:

 

• Sold Listings for All Properties were Down 0.8%

 

• Median Sales Price for All Properties was Down 1.8%

 

• Active Listings on All Properties were Up 9.4%

 

You can click here to read the 16-page Monthly Indicators or click here to get specific information on the geographical are of your choice from the 18-page Local Market Update.  It’s a good idea to check out your own area or one that you might be considering to get a good idea of the local pulse.  As an example, here is a detailed report on the Colorado Springs area:

 

ERA SHIELDS QUARTERLY STAT PACK

Data through 1^st Quarter 2026, ERA Shields

Here is data from my company’s quarterly “Stat Pack” that can better help you understand the local buying and selling reality.  I have reproduced the first page, and you can click here to get the 5-page report in its entirety.

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, February 2026

As always, I like to share the useful data I receive from our “local economist”, Tatiana Bailey.  You will see in these charts what’s happening locally in terms of the economy as well as the most recent Workforce Progress Report.

This information is especially invaluable to business owners; however, I know you all will all find it worthwhile reading.

Below is a reproduction of page 6 of graphics. To access the full report, please click here.  And if you have any questions, give me a call.

 

March 24, 2026

 

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

THE STATE OF “RESIDENTIAL real estate” CERTAINLY KEEPS ME ON MY TOES

 

Just after I wrote about mortgage rates being the lowest in years, boom…they rise to their highest level in three months last week! 

It’s crazy times we live in today and, good or bad, when wars or other catastrophes occur almost anywhere in the entire world, our cost of goods and services change almost simultaneously.  Sometimes I truly miss the days when the world was smaller (information wise) and many things were more predictable. 

But so much for reminiscing.  I learned long ago that we must play the cards we’re dealt and that includes the residential real estate market.

Quite honestly, as I’ve mentioned before, when I purchased my first home the FHA interest rate was 8.5% and my wife, Carol had a 12% VA loan on her first home.  So compared to that, today’s 6.22% is relatively cheap. 

Unfortunately, many of us still remember the 2% and 3% rates of the early 2020’s and compare today’s rate to that and are waiting for those rates to return.  Well, folks, those rates were not the norm, and we are not likely to see them again soon, if ever.

Another thing to remember is that along with those rates came a shortage of homes for sale, multiple offers, many over listing price, and decisions that had to be made oftentimes without ever seeing the home and without an inspection.  I can recall the total stress those days caused both my clients and me.

As you’ve seen from the statistics I send monthly, the one constant is that home values are continuing to climb and that’s not likely to change.

How does that affect you if you are looking to sell and trade up, move to a new neighborhood or buy for the first time or for investment purposes?

If you’ve been waiting, NOW is the time to start gathering information.

There are several factors to consider if you are wanting to sell and trade up or move elsewhere.  To begin with, if you’ve been in your home a considerable amount of time it’s likely you have more equity than you might imagine and that can help provide a larger down payment on the new home, thus keeping your payments lower than you might expect.

Another thing to consider is the many mortgage options available. 

Adjustable-rate loans (ARMs) are making a big comeback as a way to cut the cost of buying a home in the short term.  While these types of loans faded from popularity when the 30-year fixed-rate loans were so low, borrowers turning to ARMs are betting they can refinance before their fixed-rate ends, typically after five, seven or 10 years.

For example, a prospective homeowner might be drawn by a 7-year ARM with a 5.5% rate, which would give them immediate savings compared with a traditional mortgage with a 6%+ fixed rate.

And ideally, they could refinance into a lower fixed-rate loan before the seven-year period ends. 

What’s important to note is that ARMs are less risky than they once were.  The 2008 crisis showed the danger of rates surging after short teaser periods, but regulations since then have meant ARMs now have longer initial fixed periods, providing a bigger buffer before monthly payments jump.  What once was a product geared toward subprime borrowers is now more often used by affluent borrowers.

Another thing to remember is that we are now in a Buyer’s Market.  What that means is that sellers are more likely to offer concessions that help with the price for the buyer.  And, of course, with increased listings that we are seeing as we head into the spring buying and selling season, buyers have more choices as well as more time to find exactly what they want.

Personally, I have had more calls from clients wanting to get back in the market and are tired of waiting.  I’ve seen activity start to pick up sooner than normal this time of year and I believe that bodes better for our market than possibly for some other areas of the country.

If you are wanting to enter the market you need to be prepared to know exactly what you want, need, and can afford PRIOR to beginning the search.  And that includes how you wish to finance your new home.

That’s where I come into the picture.

My 54 years (in April) in the local residential real estate arena, coupled with my investment banking background, give me an edge that my clients have found to be crucial in helping them and their families realize their personal real estate visions.

I can also help steer you in the right direction to discover various mortgage options that can work for your individual situation.

But you won’t know any of this until you give me a call.

If Residential real estate is among your hopes and dreams for 2026, please give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com  sooner than later and let me help make them come true. 

The earlier you begin the process, the sooner you will be realizing those dreams for you and your family.

 

 

HOW TO PINPOINT THE “BEST TIME TO SELL” IN 2026

National Association of Realtors, 3.18.26

For higher home prices, lower competition and a faster sale, be ready to list your home during mid-April, according to a newly released report from realtor.com.

Home sellers hoping to “time the market” will likely find April 12-18 may offer the best opportunity in 2026 according to this report.  

Based on an analysis of housing trends from 2018 to 2025, researchers identified this mid-April window as a “Goldilocks” moment—when prices, demand and competition align in sellers’ favor.

Sellers who list during this week could net about $26,000 more than at the start of the year, the report finds.

“After years of being squeezed by limited inventory and high rates, the 2026 housing market is starting to feel more approachable for those who have been sidelined,” says Danielle Hale, chief economist at realtor.com.  “For sellers, the mid-April window represents an opportunity to enter a market that feels more within reach for buyers while benefiting from a seasonal advantage in terms of pricing and competition.”

Still, the report emphasizes that timing can vary greatly by market. 

 

What’s So Special About April 12-18?

Across most markets analyzed, researchers found mid-April to stand out for several reasons:

 

• Stronger home prices:  Homes listed during this window tend to command prices about 1.3% higher than the average week, which could translate into about $5,300 above annual median list prices and $26,000 more than in January.

 

• Faster sales:  In 2025, homes listed during this week spent about 50 days on the market—10 days less than the yearly average.

 

• Less competition:  While housing inventories have improved, the number of for-sale signs remains about 17% below pre-pandemic norms.  Listing in mid-April could allow sellers to get ahead of the late-spring surge in new listings, the report notes.

 

• Fewer price cuts:  About 19% fewer homes see price reductions during this week, based on historical trends.  Strong buyer demand appearing in the early spring season could help support better asking prices, the report says.

 

Challenges Remain

Housing affordability is improving with moderating home prices and lower mortgage rates.  But despite encouraging signs—like a recent uptick in pending home sales last month—economists urge caution. 

“These conditions could reverse if higher oil prices lead to an uptick in mortgage rates,” Lawrence Yun, chief economist at the National Association of Realtors (NAR) said last week in NAR’s latest housing report.

As I alluded to earlier, the recent conflict with Iran has added to uncertainty, pushing up oil prices and raising concerns about inflation and borrowing costs.

However, economists remain hopeful for a “rebalance” in the housing market this spring, following recent years where home sales have mostly been stuck in near three-decade lows.

Realtor.com’s report notes an easing “lock in effect” as more homeowners list and higher mortgage rates—in the 6% range—now become the norm.  That could help loosen inventory constraints.

The report states that the fundamentals of the housing market remain stable heading into the spring.  “The housing market remains undersupplied, especially in the Northeast and Midwest, meaning sellers of well-priced, move-in ready homes are likely to find success,” says Hannah Jones, senior economic research analyst at realtor.com.

“However, in the South and West, where inventory is more abundant, sellers face softer conditions.  In those metros, optimizing timing to this early spring window is even more critical to differentiate a property from the growing competition,” Jones added.

So let me add this—my favorite spring buying and selling season adage-- “the early bird gets the worm”.

In other words, if you want to take advantage of what could be the best time this year, call me sooner than later so we can get the ball rolling for you.

 

IF YOUR HOUSE ISN’T GETTING OFFERS, READ THIS

Keeping Current Matters, 3.11.26

According to Google Trends, online searches for “can’t sell house” recently hit an all-time high.  So, if your house has been sitting on the market without any bites, you’re not the only one.  But it’s also not the end of the road.

Homes are selling every day, so you can turn this around.  You just need to take another look at your approach.

 

 

If you’re feeling this pain, know this: an online search engine isn’t where you should go for your answers.  It’s much better to ask me.  Because a search engine doesn’t know your market or your home, but I do.

While a search or Ai platform may give you some tips on what to try, only an experienced broker like me can actually diagnosis what’s going on—and how to fix it.

A lot of things can change from when a home is originally listed and many of those can affect the time it takes to sell.  I try to give you the best advise as to comparables and other things, but then the country gets involved in a war, let’s say! 

While the selling of your home may not be of “national” concern, it is most definitely your concern and mine as well.

Forgetting the current state of the union, most homes that struggle to sell today are usually being held back by one (or more) of these three things.

 

1. Presentation:  Buyers Will Compare Everything.

When inventory was tight a few years ago, buyers overlooked imperfections because they had to, or they’d lose out to another bidder but now that’s not the case.

Today’s buyers scroll through dozens of listings in just minutes. They compare condition, updates, lighting, finishes, layout and more—all side by side .If your home feels dated, cluttered or in need of repairs, buyers will notice and it’ll knock your house right off their list of contenders.

That doesn’t mean you need a full renovation. But it does mean first impressions matter again. To compete today you need curb appeal.  Clean spaces, neutral colors, professional photos.  If there are obvious repairs or too many outdated features it could be what’s holding you back.

  

2. Pricing:  If the Price Isn’t Compelling, It’s Not Selling.

Maybe this is the hardest one to hear, but what your neighbor sold their house for a few years ago isn’t necessarily the same price you’ll get today. 

As Selma Hepp, chief economist at Cotality, says, “For sellers, the days of pricing aggressively and expecting instant offers are largely over. Homes that are well-priced and well-presented will still sell, but pricing discipline matters more than it did during the boom years.”

Buyers are budget-conscious right now. If your home is priced based on outdated expectations instead of current demand, buyers may still look at your house online…but they likely won’t write an offer. Or they’ll make an offer that you think is too low,

Pricing too high for the market is one of the top things sellers miss the mark on today. And those who aren’t willing to meet the market where it is or entertain offers may often feel stuck.

I work diligently with my clients to try and come up with a realistic selling price but once again…unforeseen variables can at times throw a wrench in the mix and sellers might need to rethink pricing if they want a sale sooner than later.

 

3. Access:  If Buyers Can’t See It, They Can’t Buy It

I know this sounds obvious but limited showing availability can kill your momentum. If your house isn’t easy to see because you’re restricting showings to evenings only, no weekend, or requiring a 24-hour notice, you’re cutting your buyer pool down by more than you might realize.

In a market where buyers have more options like they do today, the last thing you want to do is give them a reason to skip your house. Availability matters because if no one sees it, no one buys it.

 

Don’t Let Search Engine Results Decide Your Next Step

When a home isn’t selling it’s tempting to spiral and wonder if it’s the market or if something is wrong with your house.  Instead of going online, here’s what to do.

 

Sit down with me and ask me once again:

• What are buyers looking for in today’s market?
• What feedback are we getting from showings?
• Why do you think my house hasn’t sold yet?

 

It’s likely I have already answered these questions and shared any feedback I’ve received in order to help you sell your home, but I thought it important to share that if you’re disappointed that your home is not selling as quickly as you might like you can see you are not alone,

I’m hopeful that when the current world interruptions settle down the traditional spring buying and selling season will get into full swing and we will see sales pick up sooner than later.  Until then, if you’re waiting impatiently, please know that you’re not alone and I will do my part as diligently as ever to showcase your home for sale.

Any questions, please give me a call.

 

ERA SHIELDS STAT PACK

Data through February 2026, ERA Shields

Here is the newest data from my company’s monthly “Stat Pack” that can better help you understand the local buying and selling reality.  I have reproduced the first page, and you can click here to get the 5-page report in its entirety.

 

March 4, 2026

 

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

RATES ARE DOWN AND SALES AND LISTINGS ARE UP… EARLIER THIS YEAR THAN LAST

You read that right! 

Mortgage rates fell under 6% last week, hitting their lowest since 2022. 

This is essentially unleashing a wave of potential buyers who may now want to enter the market, either to buy for the first time or to sell and trade up or move to a new neighborhood.

With this coming before the “traditional” spring buying and selling season, it’s like a gift for anyone looking to make a move.

As you will see in the statistics below, folks in the Colorado Springs area were already starting to get active in January, with sales and listings both picking up.  This will only increase with the lower interest rate, and I’ve seen my clients who have been holding off for a couple of years begin to ask questions about potential moves.

According to Nadia Evangelou, principal economist and director of real estate research at the National Association of Realtors (NAR), “Mortgage rates falling below 6% is a big phycological and financial milestone—the first time we have seen that since September 2022.  That’s a confidence trigger for buyers, especially those who have been holding out for rates to start with a five again.”

And Sam Khater, Freddie Mac’s chief economist called the move into the 5% range a milestone, saying “This rate, combined with improving availability of homes for sale, is meaningful and will drive more potential buyers into the market for the spring home buying season”.

Here’s a look at the 30-year fixed rate over the last 5 years:

 

I would not expect rates to fall a lot more this year, so anyone waiting for a further drop will not likely see that happen in 2026.  I would expect this spring buying and selling season to be busy simply based on the head start you can see in our local statistics below. 

Therefore, if you’ve been waiting, NOW is your time. 

And, if you’re looking to sell, your present home possibly has more equity than you might think which could help keep your new payments lower by providing a larger down payment.

But you won’t know anything until you give me a call so together we can construct a residential real estate plan that fits your family’s individual wants, needs and budget requirements.

As I’ve said time and again, the current market is not for the timid or inexperienced.  It takes a lot of advanced planning and knowledge of how to navigate these waters.

My almost 54 years in the local residential real estate arena, coupled with my investment banking background, give me an edge that my clients have found to be crucial in helping them and their families realize their personal real estate visions.

If Residential real estate is among your hopes and dreams for 2026, please give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com and let me help make them come true. 

The earlier you begin the process, the earlier you will be realizing those dreams for you and your family.

 

And now for statistics…

 

FEBRUARY 2026

Statistics provided by the Pikes Peak REALTORS Service Corp., or it’s PPMLS

Here are some highlights from the February 2026 PPAR report. 

In El Paso County, the average days on the market for single family/patio homes was 65.  For condo/townhomes it was 89. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.0% and for condo/townhomes it was 98.3%. 

 

In Teller County, the average days on the market for single family/patio homes was 93 and the sales/list price was 97.6%.

 

Please click here to view the detailed 10-page report, including charts.  If you have any questions about the report or to find out how it relates to your individual situation, just give me a call.

 

In comparing February 2026 to February 2025 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 1,418, Up 20.1%
• Number of Sales were 773, Up 5.9%
• Average Sales Price was $524,494, Down 3.6%
• Median Sales Price was $465,000, Down 1.8%
• Total Active Listings are 2,926, Up 20.7%
• Months’ Supply is 3.8

 

Condo/Townhomes:

• New Listings were 221, Up 15.7%
• Number of Sales were 93, Down 5.1%
• Average Sales Price was $356,644, Up 3.7%
• Median Sales Price was $325,000, no change
• Total Active Listings are 575, Up 16.4%
• Months’ Supply is 6.2

 

Now a look at more statistics…

 

FEBRUARY 2026 MONTHLY INDICATORS AND LOCAL MARKET UPDATE ILLUSTRATE OUR LOCAL TRENDS IN DETAIL

Colorado Association of REALTORS^{® ,} Pikes Peak REALTORS Service Corp, or it’s PPMLS

Providing greater detail than the above report, this contains information on both El Paso and Teller counties for Residential real estate. 

The “Activity Snapshot” for all residential properties in El Paso and Teller counties shows the Year to Date one-year change:

 

• Sold Listings for All Properties were Up 4.1%

 

• Median Sales Price for All Properties was Down 2.4%

 

• Active Listings on All Properties were Up 12.1%

 

You can click here to read the 16-page Monthly Indicators or click here to get specific information on the geographical are of your choice from the 18-page Local Market Update.  It’s a good idea to check out your own area or one that you might be considering to get a good idea of the local pulse.  As an example, here is a detailed report on the Colorado Springs area:

COLORADO SPRINGS RANKS #57 IN THE Q4 2025 FHFA HOUSE PRICE INDEX

Federal Housing Finance Agency, 2.2026

The recently published FHFA House Price Index for Quarter 4 2025 lists Colorado Springs as #57 out of the top 100 in home price changes during that quarter.

Considering we were ranked at #75 in Q3 2024 and #87 in Q2 2024, that is a significant and very positive change which confirms our continued housing market strength.

Nationally, home prices were up 1.8% over the last year according to the Federal Housing Finance Agency (FHFA) and up 0.8% compared to Q3 2025. 

The Federal Housing (FHFA) House Price Index is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970’s from all 50 states and over 400 American cities.  It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code and census tract levels.

Moving from a #48 ranking in Q3 to a #57 ranking shows that homes here are not moving as quickly as the national average but I expect that to change now that the interest rate is down and more homes are starting to come to market.

We are also considerably above #94 ranked Denver which is always fabulous news. 

Below are copies of the entire list as well as of the Colorado Springs changes.  Any questions?  You know where to reach me.

ERA SHIELDS STAT PACK

Data through January 2026, ERA Shields

Here is data from my company’s monthly “Stat Pack” that can better help you understand the local buying and selling reality.  I have reproduced the first page, and you can click here to get the 5-page report in its entirety.

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, January 2026

As always, I like to share the useful data I receive from our “local economist”, Tatiana Bailey.  You will see in these charts what’s happening locally in terms of the economy as well as the most recent Workforce Progress Report.

This information is especially invaluable to business owners; however, I know you all will all find it worthwhile reading.

Below is a reproduction of the first page of graphics. To access the full report, please click here.  And if you have any questions, give me a call.

 

HARRY’S JOKE OF THE DAY:

February 24, 2025

 

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

RESIDENTIAL real estate IS STILL IN FLUX….

HOME PRICES CONTINUE TO RISE YET SALES IN JANUARY POSTED BIGGEST MONTHLY DECLINE IN ALMOST FOUR YEARS

 

All things in the Residential real estate market keep changing so fast it’s often hard to give you information before it’s out of date.

When I last wrote, sales were picking up and more existing homes were being listed for sale.  I still see that happening here in the Springs, but a look at the national picture doesn’t reflect the same as of last week. 

Home sales nationally in January posted their biggest monthly decline in nearly four years which is really saying a lot since sales have been down for most of the last several years.  Some of this nationally can be attributed to freezing temperatures in a good part of the country which kept buyers at home.  And of course, some can be attributed to the higher cost of homes for sale and low consumer confidence.

Stubbornly high home prices and average 30-year mortgage rates that are stuck above 6% are making buyers pickier and homes are sitting on the market longer.  White-collar workers worried about their jobs and tend to avoid big ticket items like a new home.

According to Lawrence Yun, chief economist for the National Association of Realtors (NAR), “Improving affordability should have brought more people to the market.  The sentiment about the economy is not there, and of course home buying does require some degree of people’s comfort levels, confidence to enter the market.”

I wrote several weeks ago that the increase in sales in the last part of 2025 and in January spurred expectations that the housing market could start to pick up this year.  And this is still happening here in Colorado Springs.  For buyers who can afford a home purchase today, many are getting discounts:  almost two-thirds of home buyers in 2025 paid below the original listing price, according to Redfin.

The upcoming spring buying and selling season will be key for determining whether the market here and nationally regains or continues momentum. 

Home prices continue to rise in almost all markets nationally as you will see in the charts below, with the national median existing home price in January rising to $396,800, a little less than a 1% increase from a year earlier.  Median prices here are higher and continue to rise, although at a much more normalized pace than several years ago.  This is partly because the supply of existing homes for sale remains below normal historical levels.

With mortgage rates hovering around 6%, down from 6.9% a year ago, purchases are a little more affordable than they were.

Personally, I have had more calls from clients wanting to get back in the market and are tired of waiting.  I’ve seen activity start to pick up sooner than normal this time of year and I believe that bodes better for our market than possibly for some other areas of the country.

It is more definitely a buyers’ market and that gives folks more time to make decisions and the ability to look for potential incentives from sellers.

If you’re looking to make a move, now is a great time to start the process. 

I’m seeing folks starting to buy and sell earlier than normal here, yet still so few existing homes for sale. If you are wanting to enter the market you need to be prepared to know exactly what you want, need, and can afford PRIOR to beginning the search.

That’s where I come into the picture.  Let me say once again that current market is not for the timid or inexperienced.  It takes a lot of advanced planning and knowledge of how to navigate these waters.

My almost 54 years in the local residential real estate arena, coupled with my investment banking background, give me an edge that my clients have found to be crucial in helping them and their families realize their personal real estate visions.

If Residential real estate is among your hopes and dreams for 2026, please give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com  sooner than later and let me help make them come true. 

The earlier you begin the process, the sooner you will be realizing those dreams for you and your family.

 

COLORADO SPRINGS IS RANKED #55 OUT OF 230 MEASURED METRO AREAS IN THE RECENTLY PUBLISHED NAR SURVEY

The National Association of Realtors, 2.4.26

In the recently published quarterly report from the National Association of Realtors (NAR), single-family, existing-home prices grew in 73% of measured metro areas.  This is down from 77% the previous quarter.

Compared to a year ago, the national median single-family existing-home price climbed 1.2% to $414,900.

Also compared to a year ago, the median price of single-family homes in Colorado Springs decreased 1.7% to $456,200 per NAR. This price reflects detached, single-family and patio homes but not townhomes or condominiums.  

The median home price increase in the Springs ranked 55^th highest of the 230 cities surveyed.  

To see all 230 metro areas in alphabetical order, please click here.  To see them in ranking order, click here.  Or click here to see what income levels are required to purchase homes based on either a 5, 10 or 20 percent down-payment.

If you have any questions, please give me a call.

 

HOMEOWNERS RETHINK MORTGAGE OPTIONS, EVEN AS RATES FALL

National Association of Realtors, 2.13.26

With existing-home sales prices hitting an all-time high in January, home buyers are looking for ways to lower their costs.

Home buyers, and most especially first-time buyers, are exploring alternative lending options to lower their rate.

Adjustable-rate mortgages, rate buy-downs and Federal Housing Administration (FHA) loans are increasingly being used to help lower borrowing costs—even as 30-year rates are slowly coming down.

The 30-year fixed-rate mortgage has dropped to three-year lows, averaging 6.09% last week.  The 15-year fixed-rate mortgage dropped to 5.44%.

That’s a big difference from a year ago when 30-year rates were close to 7%.  For a home priced at $400,000 with a 10% downpayment, a monthly payment at a 6.87% rate from a year ago versus last week’s 6.09% rate could result in nearly $200 in monthly savings.

 

Buyers Look Beyond 30-Year Mortgages

When faced with higher home prices, home buyers are looking past the most popular lending option –the 30-year fixed-rate mortgage—in trying to find savings.

According to Shawn Yerkes, group president of financial services at Genstone Financial, “Adjustable-rate mortgages (ARMs) are seeing more attention, particularly among higher loan amounts, because these loans start with a lower rate”.

The share of adjustable-rate mortgages—rates that reset after a five-or seven-year period—rose to a seven-week high of 8% of all home purchase mortgage applications in the last several weeks, according to the Mortgage Bankers Association (MBA).  ARM rates were tracking a full percentage point lower than fixed rates last week.

“Rate buy-downs from sellers are also popular,” Yerkes says.  “They reduce payments for the first two to three years, helping buyers manage the initial costs of homeownership.”

Yerkes also noted the growing interest in FHA loans, particularly among buyers with less stellar credit profiles and higher debt-to-income ratios.  MBA’s latest data shows an increase in FHA loans nationwide last week, coinciding with a declining FHA rate that is about 20 basis points lower than conforming 30-year fixed rates.  Additionally, FHA loans also allow for down payments as low as 3.5%.

If home affordability is an issue, there are several ways to cut costs.  I’ve been steering my clients toward the best options for their individual situations and if you are looking for the same, please give me a call.

After all, homeownership is one of the primary ways of building wealth in this country and the sooner you can own a home the sooner it can start working for you.

 

HOW YOUR EQUITY COULD HELP YOUNGER GENERATIONS BUY A HOME

Keeping Current Matters, 2.23.26

For a lot of parents or grandparents watching a family member struggle to buy their first home right now is hard.  That’s because they saw firsthand how homeownership gave them more stability and helped grow their net worth—and they want the same opportunities for their loved ones.

With all the affordability challenges in recent years that can feel like an uphill battle—even though it’s slowly improving lately. 

Here’s what many do not realize.  You may be in a unique position to help thanks to the current equity in your current home.

 

The Equity Advantage You May Not Be Thinking About

You’ve likely owned your home for years, maybe even decades.  And during that time, two things happened:

1. Home values rose
2. Your mortgage balance shrank (or you paid it off)

That combination has created substantial equity for many homeowners like you.

As an aside, you may not even be aware of the current equity in your home.  If you are interested, please contact me and I will do a market analysis of your home at no cost to you.

And while you may think of that equity as something you want to have in your pocket for retirement, it can also serve another purpose:  helping the next generation clear the biggest hurdle in their way.

 

The #1 Thing Holding Young Buyers Back

When John Burns Research & Consulting (JBREC) asked renters what’s keeping them from buying, the top answer surprisingly wasn’t mortgage rates or home prices.  It was the upfront cost, particularly saving enough for their down payment.

 

 

That’s where you may be able to make more of a difference than you realize.  You can’t control rates or prices, but you may be able to use your equity to help with this upfront expense.  And giving money to your loved one so they buy a home doesn’t mean putting your own future at risk.

Even a small portion of your equity can put them in a position to finally get the keys to their first place—and, if you’re strategic about it, you’d still have a lot leftover for when you retire.

With an estimated $68 to $84 trillion of wealth expected to transfer from older generations to younger ones over the next two decades, many families are already thinking differently about when and how that wealth will be passed down.  Maybe it makes sense for your family to think about it too.

 

Help from Loved Ones Is Making a Move Possible for Many First-Time Buyers

A growing share of young buyers are using gifts and loans from their loved ones to springboard into homeownership.  According to NAR, nearly I in 5 first-time buyers use a cash gift from their family or loved ones for their down payment.

And other young buyers are using their inheritance or a loan from someone they know to finally break into the market.

 

 

This Is About Opportunity.  Not Obligation

Every family’s situation is different, and your decision should be made carefully.  It’s just that, if you’ve built up a lot of equity, you many have more room to help than you think.

It’s not just a financial gift.  It’s giving stability, security and a foundation that could change their lives for the better—especially at a time when they may not be able to do it on their own.

Bottom Line:

If you are curious as to what your home equity could make possible for you or your loved ones, simply give me a call today and let’s have a conversation about it. 

Because sometimes the most meaningful investment you can make if for the next generation.