HARRY'S BI-WEEKLY UPDATE 7.9.26
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.
