January 22, 2019



          A Current Look at the Colorado Springs Residential real estate Market

As part of my Unique Brand of Personal Service, it is my desire to share current real estate issues that will help to make you a more successful and profitable buyer or seller.


Recent predictions aside, and despite mortgage rates spiking in early January from the recent historic lows, mortgage rates have declined and are holding their own at present.  

Since early November, the 30-year fixed-rate mortgage has fallen nearly half a percentage point from 4.94 percent to 4.45 percent, where it stood at the end of last week.  While it didn’t go down as it did for the six weeks prior, it held steady last week.  Existing home sales got a good boost in November and when NAR’s data for December is released today it may reveal whether lower mortgage rates have escalated sales gains again.

NAR chief economist Lawrence Yun said on Thursday that he expects recent declines in mortgage rates to keep home sales on an upward track—possibly leading to an additional 200,000 transactions in 2019.  “Buyers will want to take advantage of the lower rates,” Yun says.  “this additional demand will help absorb inventory.  Both home prices and home sales will be lifted.”

While this is great news for buyers, sellers and investors alike, it also shows that what can go down so quickly can also jump just as fast.  I tell you this because those of you who have put off buying due to the rising interest rates can now have a chance to “lock in a good rate while the getting’s good”.  Rates are not likely to stay this low.

As you will see below, prices are continuing to rise, but at a “more normal” pace than in the past year, and that, combined with the lower interest rates, will certainly work in your favor if you are looking to sell and trade up or buy for the first time.

If investment properties are what you are seeking, now is also a great time for you.  The need for rental properties is increasing as a number of first-time buyers are burdened with college loan and other debt and others cannot qualify for the recent higher priced home values.  As a matter of fact, I have done a price comparison to show potential investors that compares home values in Colorado Springs vs. the stock market appreciation over the past 30 years.  It would be my pleasure to share this with you to help you maximize your investment dollars.  As always, though, I would advise you to check with your tax advisor first to make certain that this is the right move for your personal situation.

All-in-all—there’s something for everyone and all it takes is a call for me to sit down and show you how I can put my 46 plus years of local residential real estate experience to work for you.

I can be reached at 593.1000 or by email at Harry@HarrySalzman.com and welcome talking to you, your co-workers, family and friends.  It’s worth your time to find out how to maximize your Residential real estate investment and I’m always happy to be of help. 



Pikes Peak REALTORS®Services Corp., 

These reports contain much greater detail than the first-of-the-month reports I share and cover ALL residential areas in the Pikes Peak Region. 

     The “Activity Snapshot”shows the Year to Date one-year change:

  • Sold Listings for All Properties were down 13.7%
  • Median Sales Price for All Properties was up 6.7%
  • Active Listings on All Properties were up 12.5%

You can click here to read the 16-page Monthly Indicators or click here to get specific information on the neighborhood of your choice from the 34-page Local Market Update. I recommend that you check out your own neighborhood, or one that you are considering, to get a good idea of the local pulse. I have reprinted just one neighborhood, Peyton, below to show you the type of information available for all local areas.

For questions about any of these reports or just to find out how I can put my special brand of customer service to work for you, please give me a call.



From ERA Shields real estate Annual Review and info from Pikes Peak REALOR Services Corp or its PPMLS