Harry Salzman's Blog

HARRY'S BI-WEEKLY UPDATE 6.5.26

Fri, 05 Jun 2026 01:00:00 GMT

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.

HARRY'S BI-WEEKLY UPDATE 5.28.26

Thu, 28 May 2026 01:00:00 GMT

May 28, 2026

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

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.

HARRY'S BI-WEEKLY UPDATE 5.5.26

Tue, 05 May 2026 01:00:00 GMT

May 5, 2026

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

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%

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

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

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.

HARRY'S BI-WEEKLY UPDATE 4.23.26

Thu, 23 Apr 2026 01:00:00 GMT

April 23, 2026

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

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.

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.

HARRY'S BI-WEEKLY UPDATE 4.7.26

Tue, 07 Apr 2026 01:00:00 GMT

April 7, 2026

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

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%

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

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.

HARRY'S BI-WEEKLY UPDATE 3.24.26

Tue, 24 Mar 2026 01:00:00 GMT

March 24, 2026

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

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.

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

HARRY'S BI-WEEKLY UPDATE 3.4.26

Wed, 04 Mar 2026 01:00:00 GMT

March 4, 2026

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

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%

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.

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

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:

HARRY'S BI-WEEKLY UPDATE 2.24.26

Tue, 24 Feb 2026 01:00:00 GMT

February 24, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

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.

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.

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:

Home values rose
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.

HARRY'S BI-WEEKLY UPDATE 2.5.26

Thu, 05 Feb 2026 01:00:00 GMT

February 5, 2026

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

MEMO TO THOSE WHO HAVE BEEN WAITING:

IT’S FINALLY A TRUE BUYER’S MARKET…BOTH NATIONALLY AND HERE IN COLORADO SPRINGS

Yes, you read that right. It was starting to happen toward the end of last year but it’s now official.

Home sales are picking up as the market is shifting back toward an advantage for buyers. Sales had been stuck at a 30-year low but now buyers are enjoying discounts at the highest rate in years.

Last year, about 62% of buyers nationally purchased a home below the original listing price. That was the highest proportion since 2019 according to a new analysis by real estate brokerage Redfin.

The average discount for the homes that sold below their original listing price was around 8%--the largest since 2012.

Buyers are receiving concessions from sellers, including cash that can be used for closing costs or to buy down a buyer’s mortgage.

The many discounts and incentives being offered is the latest evidence that the housing market is tilting back in favor of buyers, in contrast to the robust seller’s market from 2020 to 2022.

Home sales both here and nationally showed their highest gain in nearly 2 years and while January was a bit slower, it was likely due to fewer folks home shopping in late December during the holidays.

I’m seeing an uptick in potential buyers in the last several weeks and am expecting that to continue to grow as we approach the traditional spring buying and selling season.

Folks are getting tired of waiting and are beginning to realize that the historically low interest rates of the recent past are not coming back…at least any time in the near future.

Yes, interest rates are lower than they were last year but are holding relatively steady and are not likely to drop a whole lot over this year. I believe we are approaching what could be called a more “normalized” rate and don’t believe the historically low rates will be seen again.

As I mentioned last month, my personal rate forecast for 2026 is that the 30-year fixed-rate conventional mortgage will be between 5 ¾ % to 6 ½ % and I have seen several economists predict the same.

I also believe the housing market is going to see more action this year as those who have held off are slowly dipping their toes back in.

Folks who want to sell and trade up or move to a new neighborhood and those who are looking to buy for the first time are beginning to look at their options. I’ve even seen some investors beginning to check out what might be available.

And of course, we still have new companies looking to relocate or expand here and with them come employees looking for housing.

Prices are holding steady and those who are waiting for them to drop before they buy will likely not see this happen. This is reflected in the statistics below. You can see that homes are selling at close to listing price and home values are not depreciating. In fact, they continue to appreciate, although at a much slower rate than that of 4-5 years ago. And, like nationally, condo sales here are not moving nearly as fast as single family home sales.

If you are 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.

It’s important to note that with rising competition folks are starting to buy and sell earlier than normal. And with still relatively few existing homes for sale, if you are ready 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. 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.

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…

JANUARY 2026

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

Here are some highlights from the January 2026 PPAR report.

In El Paso County, the average days on the market for single family/patio homes was 71. For condo/townhomes it was 99.

Also in El Paso County, the sales price/list price for single family/patio homes was 98.8% and for condo/townhomes it was 99.1%.

In Teller County, the average days on the market for single family/patio homes was 85 and the sales/list price was 99.1%.

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 January 2026 to January 2025 for All Homes in PPAR:

Single Family/Patio Homes:

New Listings were 1,274, Up 4.2%
Number of Sales were 637, Down 8.5%
Average Sales Price was $543,847, Down 0.9%
Median Sales Price was $469,950, Down 2.6%
Total Active Listings are 2,843, Up 13.1%
Months’ Supply is 4.5

Condo/Townhomes:

New Listings were 204, 0.0% change
Number of Sales were 69, Down 20.7%
Average Sales Price was $332,289, Down 10.1%
Median Sales Price was $300,000, Down 11.8%
Total Active Listings are 535, Up 5.9%
Months’ Supply is 7.8

Now a look at more statistics…

JANUARY 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 Down 10.8%

Median Sales Price for All Properties was Down 1.9%

Active Listings on All Properties were Up 4.9%

WHEN HOME SELLERS SET PRICES TOO HIGH, THEY’RE PAYING FOR IT

The Wall Street Journal, 11.25. 25

If you’re serious about selling your home, you might need to drop the price.

As I mentioned earlier, it’s now become a buyer’s market and that means sellers are needing to determine the “right” price for their home prior to listing it for sale.

Many sellers optimistically price their homes based on sales from earlier in the 2020’s when they saw neighbors get homes snapped up quickly at high prices.

Instead, it would be much wiser to calibrate the asking price by looking at what comparable homes in their neighborhood have sold for in the last several months.

This is a service I provide when helping my clients list their homes and I’ve found that many sellers-to-be have unrealistic ideas of what their home is actually worth in today’s market.

It is far better to list a home at a “realistic” price than to have to lower it once or even more when it doesn’t attract potential buyers.

Setting a price too high can make the sales process drag on. Listings that sold after a price reduction typically spent about five times as many days on the market as the average for homes priced right from the start, according to the National Association of Realtors (NAR).

Homes priced correctly from day one tend to sell more quickly and get nearly 100% of their asking price, per NAR. After three months, sellers usually trim prices by more than 5%, and after a year, by more than 12%.

About 57% of homes sold in 2025 through October had at least one price cut, per NAR, indicating that a significant number of sellers are entering the market with unrealistic expectations. Between 2020 and 2024, that share was closer to 47%.

When working with my seller clients, the first thing I do is comparisons so that they can get a realistic idea of what their present home might sell for. Having spent almost 54 years in this market I have a considerably better than average track record in helping set a price that will attract buyers and still get my sellers the highest price possible.

If you’re ready to sell, I’m ready to help. Give me a call and let’s see how we can make that happen in a time frame that works for you and your family.

ERA SHIELDS 2025 ANNUAL REAL ESTATE REPORT AND 2026 FORECAST

Attached is a copy of the ERA Shields Annual Real Estate Report which also includes the company’s forecast for 2026. If you have any questions, please call me.

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, January 2026

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 BI-WEEKLY UPDATE 1.7.26

Wed, 07 Jan 2026 01:00:00 GMT

January 7, 2026

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

HAPPY NEW YEAR….AND WELCOME TO 2026

Let me begin by wishing you a happy, healthy, and prosperous year.

2025 was another year of trials and tribulations in the Residential Real Estate market, both nationally and here in Colorado Springs.

High interest rates and the lower number of existing homes for sale created the slowest market year in decades with home turnover hitting lows not seen since the early-to-mid 1990’s and even rivaling the early 1980’s by some measures.

The pace of sales and number of transactions were exceptionally low making it one of the quietest periods in the housing market in nearly 30-40 years, with some reports indicating the fewest sales since 1995. July 2025 saw homes nationally taking an average of 43 days to sell, the longest July period since 2015. Locally, our turnaround was a few days less, but still much longer than in the recent past. And that was during the normally busy buying and selling season.

However, on the bright side, U.S. pending home sales rose for the third straight month and hit a 3-year high in November. And as you will see from the statistics below, our listings and sales are on the rise as well.

And… as a holiday surprise in the last week of 2025, the average long-term mortgage rate fell to 6.18%, the lowest level of 2025 and hopefully a sign of even lower rates in 2026.

According to Lawrence Yun, chief economist for the National Association of Realtors (NAR), “Improving housing affordability—driven by lower mortgage rates and wage growth rising faster than home prices—is helping buyers test the market”.

We are seeing more listings for this time of year than in the recent past and I believe it’s due to a more optimistic outlook that seems to be permeating the housing market. Folks are realizing that interest rates are not going back to the historic lows of 4 or 5 years ago and home prices are continuing to rise.

I always start my new year by predicting how I personally see the Residential Real Estate market affecting not only the Colorado Springs area, but also how it will affect my clients in general.

My predictions for 2025 were pretty much “right on” but without a crystal ball a bit of that was a good, well thought out “guesstimate”!

For 2026 my predictions include the expectation that things will continue to be slow in terms of time. It will take a bit longer to sell, and pricing adjustments might be necessary, but home values will still rise by 2% to 3%. Nothing is “black and white” anymore and anything is negotiable, even interest rates.

I also believe:

Demand for existing homes will be strong due to the low number of existing homes for sale.

Interest rates on 30-year fixed-rate conventional mortgages will drop down to the 5.75-%--6.0% range by the end of 2026, which is great news since rates were as high as 7.0% in 2025.

If homes are priced right, the probable number of days on the market will be around 60 days.

Renters are going to continue to be looking to buy, if possible, due to higher rental rates.

Homes will continue to appreciate as they have in the past, although not as rapidly. As I’ve said time and again, you can’t only look at the last quarter or even the last couple of years. Real Estate is a long-term investment.

When you look at the value of home ownership compared to other investments, it’s still going to be extremely positive. And even in a slow market as we’ve recently seen, our home values keep appreciating…although at a more “normalized” rate.

For most, your home will likely continue to be your largest and fastest growing investment.

I have always said that no one can expect to buy at the lowest price point, nor sell at the highest. It just isn’t possible and most anyone who thinks they can will likely lose in the long run.

Yes, prices are holding steady and those who are waiting for them to drop before they buy will likely not see this happen. This is also reflected in the statistics below. You can see that homes are selling at close to listing price and home values are not depreciating. In fact, they continue to appreciate, although at a much slower rate than that of 4-5 years ago. And, like nationally, condo sales here are not moving nearly as fast as single family home sales.

And, while it may be more difficult today, it’s still possible for you to find what you need, want, and can afford in a home.

With new companies relocating to the Springs or others expanding their current business plans, we are seeing an influx of folks moving here for jobs and they are needing places to live. This is putting even more pressure on folks wanting to buy—either to sell and trade up, purchase a first home or even for investment purposes.

Since sales have been picking up recently, during what is traditionally the slowest time of the year, it appears that folks are starting to buy and sell much earlier than normal. They aren’t waiting for the “traditional” spring buying and selling season.

If you are looking to sell and trade up or move to a new neighborhood, 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.

Don’t forget—your income tax expense will be reduced by the interest expense if you have a mortgage payment. And even if you have no mortgage, you can deduct your property taxes and other home expenses—something renters cannot do.

It’s important to note that with rising competition, folks starting to buy and sell earlier than normal, and still so few existing homes for sale, if you are in 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. 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.

A new year brings with it a lot of new hopes and dreams. 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…if you’ve got two minutes and 24 seconds, I recommend that you take a look at my newest “crystal ball prediction” podcast . Simply click on the link below and you will be directed to my personal YouTube channel.

To watch, click here:

https://youtu.be/rKu-cYpXM_U

While you’re at it you might want to subscribe to my channel, so you won’t miss future broadcasts. It won’t cost you anything. Well, it could cost you… if you miss some of my informative musings!

And now for statistics…

DECEMBER 2025

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

Here are some highlights from the December 2025 PPAR report.

In El Paso County, the average days on the market for single family/patio homes was 61. For condo/townhomes it was 116.

Also in El Paso County, the sales price/list price for single family/patio homes was 98.5% and for condo/townhomes it was 102.1%.

In Teller County, the average days on the market for single family/patio homes was 96 and the sales/list price was 97.0%.

Since these are year-end statistics, I am providing you with both the regularly posted year-over-year monthly stats as well as the cumulative year-to-date comparison of 2025 to 2024.

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 December 2025 to December 2024 for All Homes in PPAR:

Single Family/Patio Homes:

New Listings were 739, Up 4.5%
Number of Sales were 909, Up 3.6%
Average Sales Price was $531,469, Down 2.7%
Median Sales Price was $460,000, Down 5.2%
Total Active Listings are 2,837 Up 13.3%
Months’ Supply is 3.1

Condo/Townhomes:

New Listings were 91, Down 21.6%
Number of Sales were 107, Down 3.6%
Average Sales Price was $366,835, Up 4.4%
Median Sales Price was $330,000, Down 2.9%
Total Active Listings are 501, Down 0.2%
Months’ Supply is 4.7

The Cumulative YTD Summary: (comparing Jan-Dec 2025 to Jan-Dec 2024)

Single Family/Patio Homes:

New Listings were 17,358, Up 7.3%
Sales were 11,788, Up 2.5%
Average Sales Price was $559,340, Up 1.8%
Volume was $6,593,499,920, Up 4.3%

Condo/Townhomes:

New Listings were 2,577, Down 3.1%
Sales were 1,572, Down 7.3%
Average Sales Price was $363,437, Down 1.4%
Volume was $571,322,964, Down 8.5%

Now a look at more statistics…

DECEMBER 2025 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 2.2%

Median Sales Price for All Properties was Down 5.2%

Active Listings on All Properties were Up 6.4%

NAR FORECAST

National Association of Realtors, 12.10.25 & 1.5.26

Top economists have one word to sum up the housing market for 2026: OPPORTUNITY.

Lower mortgage rates and a rising supply of existing homes for sale are expected to open up the housing market in the new year—something the residential real estate industry and potential home buyers and sellers have been waiting for following three years of stagnation.

NAR is forecasting a double digit---14% increase---in existing homes for sale in 2026.

According to Lawrence Yun, NAR chief economist, “In 2026 we expect higher inventory, modest improvements in affordability and more accommodating monetary policy from the Federal Reserve will help more Americans buy their next home.”

If mortgage rates drop to 6%--as NAR projects for 2026—it would mark a full percentage point drop from the roughly 7% average at the start of 2025. That shift could unlock an estimated 5.5 additional qualified home buyers nationwide, including about 1.6 million renters, who could finally make the leap into homeownership.

As the housing market enters 2026, leading economists point to a range of forces likely to shape the year ahead for buyers and sellers and while notable headwinds persist, they all agree on one thing—the housing market is showing signs of a rebalance—and a rebound—in 2026.

A Reawakening in Home Sales

Equity remains, but home prices moderate: Home price growth will be minimal—roughly 2% to 3%--about the same as overall consumer price inflation. Generally, wage growth will be above that so it’s a year where people’s income begins to rise a little faster than consumer price inflation and home prices—and this is a welcoming development.

It’s important to note that home prices are in no danger of any major decline, and even a 3% gain will bring smiles to many homeowners.

There will be less pressure on buyers as inventory levels are about 20% above one year ago, so there are more choices for them. We are not back to pre-Covid inventory yet, which would be considered “normal” so we are still in a housing shortage condition. However, buyers do not have to rush to make decisions the way they did before as there are more choices out there and less prevalence of multiple offers.

The American Dream is still alive: The desire for homeownership has not fallen. Many renters say that if the conditions are right they would like to become homeowners. The past couple of years have been frustrating because of elevated mortgage rates, but things will be much better to achieve that American Dream of homeownership in 2026—with more inventory choices and mortgage rates falling.

New homes vs. resale pricing—an unexpected dynamic: The median resale home price right now is actually more expensive than the median price of a newly built home. That’s only happened two or three times over the last few decades. The combination of builder incentives, including price cuts and the geography of where new construction is occurring has produced this odd situation where the typical resale home is more expensive than a newly built home.

And as an aside, if a newly constructed home is in your future, I can help you with that as well—at no additional cost to you.

Housing Affordability Improves

According to Danielle Hale, realtor.com chief economist: “The biggest trend that we’re most excited to see is an improvement in affordability. That’s going to be good news for buyers and a contributor to the fact that home sales will finally start to go up and get away from this 4 million home sales floor that we’ve been very stuck on over the last couple of years. Improving affordability is a really important component of that increase in home sales for 2026.”

Pricing sensitivity and balance: In recent data, we’ve noticed that the share of sellers pulling their homes off the market is higher than normal. Even then, it’s still only about 6% of listings, so it’s definitely not the norm. What it reflects is a more balanced housing market where not every seller is getting exactly what they want. Some are choosing to come down in price, and others are choosing to walk away and come back at a later date because they have the flexibility to wait.

Basically, buyers have a little more leeway, and sellers have to be more flexible, and that’s a big shift from the pandemic years when sellers had nearly all the leverage.

Monthly payments ease: According to most estimates this will be the first time we see monthly payments decline since 2020. Mortgage rates are expected to be lower, which helps offset the roughly 2% home price growth that we expect in 2026.

Demographic Trends Reshape the Market

Jessica Lautz, NAR deputy chief economist said, “We’re watching the share of first-time home buyers and the share of all-cash buyers, because that push and pull has really dominated the market. Another trend I watch closely is the growing share of single female buyers: We’re seeing single women really growing as a force in the market and that reflects lower marriage rates and lower birth rates. There will continue to be people who buy homes, but it could be a different type of person than what we have seen historically. These demographic shifts are really shaping who is able to make moves in this housing market.”

First-time buyers gradually re-emerge: With more inventory and slightly improved affordability conditions, that means an opportunity for first-time home buyers. Hopefully they can take advantage of these conditions because homeownership is a wealth-building tool.

Baby Boomers remain the dominant force: They have a ton of housing wealth and they’re able to make trades right now—move close to the grandkids and move where they want to be. They’re not making many concessions on their home choices. If we continue to see this large share of retirees, we could continue to see smaller households and different housing choices than what we’ve seen historically.

Just a quarter of buyers have kids. If you look at the demographics, we know that home size is shrinking and the number of people in the household is shrinking. With a larger share of retirees in the market, we’re seeing fewer buyers with young children.

All-cash Buyers aren’t going away: While mortgage applications have been trending up in the last couple of months, we are seeing more buyers enter the market who are not all-cash. That being said, it’s doubtful that all-cash buyers are going away anytime soon just because of all the wealth that is in this housing market and the ability of homeowners to make trades without a mortgage.

All Eyes on Mortgage Rates

NAR senior economist Nadia Evangelou said, “For the last few years we have been in one of the toughest affordability environments in modern housing history. Mortgage rates jumped from 3% in 2021 to above 7% in 2023, and that pushed the typical payment up by more than $1000 a month compared to pre-pandemic levels. But what happens if rates move down from 7% to 6%? We expect the buyer pool to increase significantly.”

Mortgage rates as a major unlock: As mentioned earlier, a one percentage point drop in mortgage interest rates nationally can expand the pool of households who can qualify to buy by about 5.5 million households, including about 1.6 million renters who could become first-time homeowners. Not all of these households will buy a home, but based on NAR’s analysis, about 10% typically do. That could translate to about 500,000 additional home sales in 2026—the main reason home sales are expected to increase this year.

More inventory needed to match incoming demand: Mortgage rates alone don’t make a stronger market. Inventory is another component that needs to cooperate. Inventory is rising—it’s higher than a year ago—but if more buyers come back, we’re going to need more homes available for sale.

Middle-income buyers still constrained: Even with progress in affordability, middle-income buyers can afford to buy just 21% of the homes currently available for sale. Before the pandemic they could afford about 50%. That a very dramatic difference and it shows why we need a target approach—homes that align with people’s income.

So, there you have it. The economists from NAR have spoken and I for one found this quite enlightening. Lots of good information here for both buyers and sellers.

Any questions? You know who to call.

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, November and December 2025

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 HOLIDAY GREETING 12.18.2025

Thu, 18 Dec 2025 01:00:00 GMT

December 19, 2025

HARRY’S HOLIDAY GREETING

Wishing all who celebrate...

Happy Christmas and a Merry Chanukah

And wishing everyone...

a very Happy, Healthy and Prosperous 2026

HARRY'S BI-WEEKLY UPDATE 12.4..25

Thu, 04 Dec 2025 01:00:00 GMT

December 4, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

NOT THE TRADITIONAL “BUYING AND SELLING SEASON” BUT...

I’ve been working with several folks lately who are tired of waiting and decided to make their move…literally.

In fact, home sales nationally rose to an 8-month high in October due to rate decline but we have a way to go to get back to normal.

As you might surmise from the statistics and articles below, things are looking up for those wanting to buy now or in the near future.

Home prices are not going down…in fact…while rising slower than several years ago, they are starting to normalize and they keep going UP.

And while listings are somewhat down, there are more homes to choose from than in the recent past.

When you couple that with mortgage rates that are lower than they have been, it most certainly is a good time to begin your quest if a move is in your future.

Something to also consider is financing that can help keep your interest rate down. We are again seeing more buyers opting for a 5-year Adjustable-Rate Mortgage, figuring that rates will go down during those five years which will allow them to refinance at the better rate for a traditional mortgage of 15 or 30 years.

This chart from National Association of Realtors (NAR) shows Housing Statistics for Colorado Springs for September and you can see in our statistics below that it mirrors what I’ve been telling you.

Listings are down, but prices and sales remain steady or have increased somewhat.

Once we get into the spring buying and selling season I expect things to get busier than last year so if you’ve even considered a move, it’s not too early to begin.

NOW is a great time to sit down with me and together we can see what’s available for your personal situation and figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.

You might find that your present home has more equity than you would imagine, thus providing more dollars for a down payment on the new home and keeping your payment lower.

The early bird gets the worm as they say, and you could be starting the new year getting ready for a new home.

Why not give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com and let’s see how your Residential Real Estate dreams can become reality in the best time frame and for the best financial situation for you?

And now for statistics…

NOVEMBER 2025

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

Here are some highlights from the November 2025 PPAR report:

In El Paso County, the average days on the market for single family/patio homes was 54. For condo/townhomes it was 73.

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

In Teller County, the average days on the market for single family/patio homes was 58 and the sales/list price was 96.9%.

Please click here to view the detailed 12-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 November 2025 to November 2024 for All Homes in PPAR:

Single Family/Patio Homes:

New Listings were 885, Down 0.9%
Number of Sales were 837, Down 6.4%
Average Sales Price was $551,605, Down 0.3%
Median Sales Price was $491,990, Up 1.4%
Total Active Listings are 3,555, Up 15.0%
Months Supply is 4.2

Condo/Townhomes:

New Listings were 149, Up 11.2%
Number of Sales were 95, Down 13.6%
Average Sales Price was $378,223, Up 10.4%
Median Sales Price was $344,500, same
Total Active Listings are 606, up 2.5%
Months Supply is 6.4

NOVEMBER 2025 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 Down 8.4%

Median Sales Price for All Properties was Up 1.9%

Active Listings on All Properties were Up 8.8%

WHY BUYING A HOME STILL PAYS OFF IN THE LONG RUN

Keeping Current Matters, 11.26.25

Even in this very slow market, home values are still increasing and even though interest rates are higher than many remember, owning a home is still the best option if at all possible. When you rent you are still paying a mortgage…just someone else’s and they are gaining equity while you are simply paying rent.

Renting can feel much less expensive and much simpler than buying a home, especially right now. No repairs, no property taxes, no worrying about mortgage rates—you just pay the bill and go on with your life.

But---here’s the part people don’t talk about—renting doesn’t help you build our financial future. Meanwhile, homeowners grow their net worth just by owning a home.

If you’ve been wondering whether buying a home is still worth it—the long-term math is clearer than you might think.

Renting vs. Owning: How the Costs Really Compare

As I just mentioned, one of the key differences between renting and buying is that when you rent, your payment goes to your landlord and then it’s gone. When you own, part of your payments come back to you in the form of equity (the wealth you build as the value of your home increases, and you pay down your home loan).

So, while renting may seem more affordable at present, you need to remember it comes at a long-term cost—you’re not building your personal wealth. And, as it turns out, that’s a bigger miss than you might expect.

First American recently analyzed the long-term financial impact of renting vs. owning a home. They compared mortgage payments, property tax, insurance, repairs and maintenance against the equity gained through home price appreciation and paying down the mortgage. And they did that during several different time frames to see if it tells a consistent story:

2006: the start of the housing bubble
2015: 10 years ago
2019: just before the pandemic (the last normal years in the market)
2022: when mortgage rates jumped

In each time frame, two things were true: Renters ended up losing money over time. And homeowners gained it.

Here’s some data so you can see this in action:

Each color represents one of the key time frames.
The solid lines show the buyer’s investment over time and how their net worth actually grew the longer they lived in their home.
The dashed line represents the renter’s investment. In the end they sank more and more cash into renting without gaining any financial benefit.

The takeaway is quite simple: Time in a home builds wealth. Time renting doesn’t.

Basically, homeowners come out ahead. And that analysis shows that’s even after you factor in the other expenses that come with homeownership. And that’s the case for every time First American looked into it.

And on the flip side, renters spent money on rent but didn’t gain any long-term financial benefit. And that’s true no matter what window of time you look at the study.

That doesn’t mean buying always beats renting in the short term. But the longer you own, the wider the wealth gap becomes.

Affordability is Starting to Improve

I understand you might be thinking that buying feels out of reach for your current situation. And that’s fair.

The last several years haven’t been easy for buyers. But…things are starting to shift. Mortgage rates have come down this year, home prices are softening, and incomes have been rising. And, according to Zillow, typical monthly payments have gotten a little easier compared to this time last year. Not by a lot, but enough to make a difference.

Bottom Line

Renting may feel less expensive today but owning is what builds real wealth over time. And with affordability starting to improve, the path to homeownership might be opening up more than you think.

If you’re wondering how you can make homeownership happen for you or a family member, let’s get together and see how we can make that happen. Give me a call today.

ERA SHIELDS STAT PACK

Data through 11.2025, ERA Shields

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

UCCS ECONOMIC FORUM MONTHLY DASHBOARD

Updated November 2025, UCCS College of Business/Economic Forum

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.

HARRY’S JOKE OF THE DAY:

I found this in my files from ages ago and as you can see, people have had mortgage wishes for many, many years…and probably will for many, many years to come.

HARRY'S THANKSGIVING GREETING 2025

Mon, 24 Nov 2025 01:00:00 GMT

November 24,2025

HARRY’S THANKSGIVING GREETING

Wishing you and yours a happy, safe, and plentiful Thanksgiving holiday…

HARRY'S BI-WEEKLY UPDATE 11.7.25

Fri, 07 Nov 2025 01:00:00 GMT

November 7, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

NOT A LOT OF MOVEMENT IN THE MORTAGE RATES BUT IF YOU’VE BEEN WAITING TO MAKE A MOVE…NOW IS A GOOD TIME

Yes, you read that right.

Traditionally, this time of year is considered one of the slowest for Residential Real Estate. However, there hasn’t been anything “traditional” about buying and selling in recent times and I’m seeing more movement in the market than in the recent past.

Folks are getting tired of waiting for the “right” time and realizing that the longer they wait for mortgage rates to fall, the more home prices are going to go up, thus depriving them of “home equity” that could have been theirs had they bought when they were first considering a move.

As you will see in the statistics below, listings on single family homes are up 15.4% over this time one year ago. That means more people are tired of waiting and are now ready to sell to trade up or move to another neighborhood.

What is also means is that if you are ready to do the same, there are more homes available and that provides you with a better selection as well as more buying power since it’s no longer a “sellers’ market”.

Another thing to consider is financing that can help keep your interest rate down. We are again seeing more buyers opting for a 5-year Adjustable-Rate Mortgage, figuring that rates will go down during those five years which will allow them to refinance at the better rate for a traditional mortgage of 15 or 30 years.

Also, you might find that your present home has more equity than you might imagine, thus providing more dollars for a down payment on the new home and keeping your payment lower.

In a nutshell…NOW is a great time to sit down with me and together we can see what’s available for your personal situation and figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.

Why not give me a call today at 719.593.1000 or email me at Harry@HarrySalzman.com and let’s see how your Residential Real Estate dreams can become reality in the best time frame and for the best financial situation for you.

And now for statistics…

OCTOBER 2025

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

Here are some highlights from the October 2025 PPAR report:

In El Paso County, the average days on the market for single family/patio homes was 52. For condo/townhomes it was 66.

Also in El Paso County, the sales price/list price for single family/patio homes was 99% and for condo/townhomes it was 98.2%.

In Teller County, the average days on the market for single family/patio homes was 62 and the sales/list price was 98.1%.

Please click here to view the detailed 12-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 October 2025 to October 2024 for All Homes in PPAR:

Single Family/Patio Homes:

New Listings were 1,389, Down 1.3%
Number of Sales were 876, Down 12.2%
Average Sales Price was $543,590, Down 2.5%
Median Sales Price was $473,500, Down 0.3%
Total Active Listings are 3,918, Up 15.4%
Months Supply is 4.5

Condo/Townhomes:

New Listings were 193, Down 2.5%
Number of Sales were 130, Down 18.2%
Average Sales Price was $361,871, Up 2.4%
Median Sales Price was $319,500, Down 4.6%
Total Active Listings are 640, 0.0
Months Supply is 4.9

OCTOBER 2025 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 Down 12.4%

Median Sales Price for All Properties was Down 1.1%

Active Listings on All Properties were Up 10.5%

2025 NATIONAL ASSOCIATION OF REALTORS (NAR) PROFILE OF HOME BUYERS AND SELLERS

NAR, 11.4.25

NAR publishes a yearly profile of home buyers and sellers and I thought you might like to see a few highlights from this year’s report.

The Real Estate Market:

From the middle of 2024 through the middle of 2025 the market continued to show extremely limited inventory, and what was available was often at unaffordable price points for some potential home buyers. During the time data was collected for this survey, the 30-year fixed-rate averaged 6.69%. As a result of decreased housing affordability and limited housing inventory, potential first-time buyers retreated further from the housing market. Homeowners continued to watch their equity grow and the market remained divided between an all-time high of all-cash buyers and an all-time low of first-time buyers.

First-Time Home Buyers:

First-time home buyers in the last year shrank to an historic low of just 21% of all buyers. Prior to 2008, the share of first-time buyers has a historical norm of 40%. At the same time, the share of first-time buyers is at its lowest level, and the age of first-time buyers is now 40. In the 1980’s the typical first-time buyer was in their late 20’s. Among the elite first-time buyers who can enter the market, they are most likely to use personal savings (59%) or financial assets (26%) for their down payment. In reports from past years, a gift or loan from a friend or relative was more common among first-time buyers than financial assets.

Repeat Home Buyers:

Repeat buyers can enter the housing market with large down payments (median of 23%). Thirty percent paid cash and did not finance their home. Repeat buyers have continued to earn housing equity as home prices increase. Home sellers have owned their home for an all-time high of 11 years before selling and make a housing trade.

For repeat buyers, this was the same down payment as in 2024, but it is the highest down payment seen since 2003. This year, down payments also grew for first-time buyers. The typical down payment for first-time buyers was 10%, which matches the highest share recorded since 1989.

Repeat buyers also have the highest median age, at 62, seen in the report’s history. As half of repeat buyers are over the age of 62, they are driven by the desire to purchase a home to be closer to friends and family (at 19%). While this is the top reason to purchase a home, neighborhood preferences have also changed. Among all buyers, the quality of the neighborhood (59%) and convenience to friends and family (47%) are the top neighborhood factors. Convenience to the home buyer’s job has continued to decline incrementally and is now at 31%, down from 52% in 2014. The decline in convenience to one’s job is notable, as return-to-work orders have become more common among employers between 2024 and 2025.

Household Composition:

Among all home buyers, 61% are married couples, 21% are single women and 9% are single men. Among the first-time buyers, 25% are single women and 10% are single men, as the share of married couples remained flat at 50%. The share of home buyers with children under the age of 18 fell to an all-time low of just 24%. A reduction of home buyers with children is likely being shaped by a reduction in birth rates and a rise in older repeat buyers. Additionally, a steady share of buyers cite childcare expenses as a barrier to saving for a down payment.

Buyers’ Use of a Real Estate Agent or Broker:

Eighty-eight percent of home buyers purchased their home through a real estate agent or broker. Home buyers primarily sought help finding the right home to purchase (50%) and negotiating the terms of the sale (13%). Home buyers also wanted help with price negotiations (12%) and help with paperwork (7%).

Length of Search for a Home:

The number weeks a buyer searched for a home remained steady at 10 weeks compared to last year. Due to limited inventory, it is not surprising that buyers continue to report the most difficult task in the home-buying process is finding the right home to purchase. However, overall, 92% of home buyers are satisfied with the buying process.

Sellers’ Use of a Real Estate Agent:

Ninety-one percent of sellers sold with the assistance of a real estate agent, up from 90% last year and only 5% were for sale by owner (FSBO) sales, an all-time low. Sellers placed a high priority on the following three tasks: helping market the home to potential buyers, pricing the home competitively, and selling the home within a specific timeframe.

I’m expecting next year’s survey to differ now that interest rates are lower and there are more available homes on the market. However, I found this survey to be interesting and thought you would as well.

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

COLORADO SPRINGS IS RANKED #50 OUT OF 230 MEASURED METRO AREAS IN THE RECENTLY PUBLISHED NAR SURVEY

The National Association of Realtors, 11.6.25

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

Compared to a year ago, the national median single-family existing-home price climbed 1.7% to $426,800, the same annual growth as the first quarter of the year.

Also compared to a year ago, the median price of single-family homes in Colorado Springs again rose 0.2% to $474,100 per NAR. This price reflects detached, single-family and patio homes but not townhomes or condominiums. Considering that 23% of the measured markets experienced declining home prices, at least our median price improved a bit and is higher than the national average.

The median home price increase in the Springs ranked 50^th highest of the 230 cities surveyed.

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

ERA SHIELDS “ON THE HOME FRONT”

VOLUME 4, 2025

Here is a copy of my company’s newsletter. Any questions? Give me a call.

HARRY'S BI-WEEKLY UPDATE 10.27.25

Mon, 27 Oct 2025 01:00:00 GMT

October 27, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

MORTAGE RATES ARE AT THEIR LOWEST AVERAGE IN MORE THAN A YEAR AND LOCAL LISTINGS ARE UP...BUT SALES ARE STILL SLOW…FOR NOW

Mortgage rates hit their lowest average rate since October 2024---with the 30-year, fixed-rate mortgage averaging 6.19% according to Freddie Mac---and it’s providing a bit of a boost to homebuyers. In fact, the last time the 30-year fixed-rate average was lower than today was October 3^rd last year.

The 15-year, fixed-rate mortgage also decreased, averaging 5.44%, lower than the 5.52% two weeks ago and the 5.71% average from this time last year.

And, the Federal Reserve has indicated that there will be two more interest rate cuts before year end, which could in turn help reduce mortgage interest rates as well.

These are all positive signs for the Residential Real Estate market, and I expect to see local sales picking up sooner than later.

While this is traditionally not the most active buying and selling season, it appears that folks who have been waiting for better rates are looking to jump ahead while there are more available homes for sale.

I can’t agree more.

There is currently a ripple effect in the market—in a good way. Last week the National Association of Realtors (NAR) reported that its measure of pre-owned home sales increased 1.5% in September. According to Lawrence Yun, chief economist for NAR, “falling mortgage rates” are the reason and all told, existing home sales reached a seven-month high in September nationally.

While sales have been slow and it’s been much more of a buyer’s market of late, I’ve recently had calls from folks wanting to find out if this is the time for them to make their move…literally.

I tell them what I have told my clients forever—it’s only a good time if it’s a good time for your individual situation.

And there is only one way to find that out—by giving me a call and scheduling a time to get together and see how your wants, needs and budget requirements can be best used to find just the right place for you and your family.

If you’ve even considered a move in the last year or more NOW is the time to begin before others jump in to take advantage of the new rates and increased options. You might be surprised to find that the possible increased equity in your present home could provide you with a greater down payment, which in turn will result in less of a monthly output than you might expect.

As many of you are aware, I am a leading authority in the Residential Real Estate industry—with more than 50 years in the local real estate arena and a background in investment banking as well.

This helps me keep my clients well-informed, thus enhancing their ability to make timely and effective real estate decisions.

Give me a call today at 719.593.1000 or email me at Harry@HarrySalzman.com and together let’s see how your Residential Real Estate dreams can become reality in the best time frame for you.

NEW HOME SALES SENTIMENT HIT A SIX-MONTH HIGH

Reuters, 10.17.25

The lower interest rate has also affected U.S. homebuilders, with sentiment jumping to a six-month high this month.

Economic uncertainty and the lackluster job market nationally have offset some of the anticipated boost. However, those looking to buy a newly constructed home are seeing some builder incentives to make a sale more attractive.

Some builders are rolling back prices to bring more buyers to the table. In fact, 38% of builders reported cutting home prices in October, with the average reduction rising to 6%, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.

These cuts are narrowing the gap between new and existing homes, with economists calling this an “unprecedented pricing shift” since new homes have historically sold for much more than existing homes on average.

While existing homes prices continue to edge higher each month—although at a much slower pace lately—more builders are turning to price reductions and smaller floor plans to reach buyers who feel priced out.

Also, according to the survey, 65% of builders said they turned to additional incentives such as:

Mortgage rate buydowns to shrink your monthly payment

Price cuts that make homeownership more attainable

Help with closing costs and even upgrades in some communities

This is great news for those looking to buy a newly constructed home and certainly not something to overlook.

And what’s even better news for you if this is a consideration?

I can help at no additional cost to you.

Yes, you read that right. If a newly constructed home is in your future, I can be of great assistance at no extra cost to you.

I can assist with home location, elevation and other factors that are important to you. More importantly, I can help direct you to a lender who can provide the best rates and service for your individual situation.

These incentives won’t be around forever so if this is something you have considered, give me a call and let’s discuss how to make them work in your favor today.

TOP SELLER MISTAKES…an infographic

There has been some talk about selling a home without an agent or through a national network. I’ve personally seen some folks try to do so and ultimately almost all have realized that without the help of a qualified, knowledgeable local agent they often got nowhere.

They lost time and possibilities due to the lack of individualized help and ended up turning to an agent in the end.

My advice? You get what you pay for—and when it comes to selling a home it is more than worth it to have someone like me in your corner working for you.

Just a “word to the wise”, as they say…

HARRY'S BI-WEEKLY UPDATE 10.7.25

Tue, 07 Oct 2025 01:00:00 GMT

October 7, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

HAPPY FALL SEASON….AND THIS YEAR ALSO A GOOD TIME TO CONSIDER YOUR RESIDENTIAL REAL ESTATE NEEDS AND WANTS AS WELL….

The picture above was taken last week on our drive from Dillon to Breckenridge and it could not have been more picturesque. Fall is most definitely in the air.

As many of you may know, mortgage rates are now the lowest in 11 months and are likely to fall even more before year end.

What does that mean if you are considering a move?

Well, things are starting to pick up even though it is not the “traditional” buying and selling season and when there are more homes on the market and more buyers for those homes, prices will start to go up and price and other type of negotiations will be much tighter than they have been in recent months.

As you will read in an article below, the opportune time to buy in 2025 is next week—the week of October 12-18 as well as the surrounding weeks.

If you’re even thinking of making a move, I’d suggest you read that article and then contact me at your earliest convenience.

Together we can see what’s available for your personal situation and figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.

And now for statistics…

SEPTEMBER 2025

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

Here are some highlights from the September 2025 PPAR report:

In El Paso County, the average days on the market for single family/patio homes was 50. For condo/townhomes it was 65.

Also in El Paso County, the sales price/list price for single family/patio homes was 98.8% and for condo/townhomes it was 97.7%.

In Teller County, the average days on the market for single family/patio homes was 72 and the sales/list price was 99.0%.

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 September 2025 to September 2024 for All Homes in PPAR:

Single Family/Patio Homes:

New Listings were 1,328, Down 0.2%
Number of Sales were 1,026, Up 10.0%
Average Sales Price was $565,356, Up 5.7%
Median Sales Price was $479,450, Down 1.1%
Total Active Listings are 4,010, Up 18.2%
Months Supply is 3.9

Condo/Townhomes:

New Listings were 170, Down 32.0%
Number of Sales were 143, Up 2.1%
Average Sales Price was $366,060, Down 5.1%
Median Sales Price was $326,000, Down 11.9%
Total Active Listings are 648, Up 3.3%
Months Supply is 4.5

SEPTEMBER 2025 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 11.6%

Median Sales Price for All Properties was Up 0.8%

Active Listings on All Properties were Up 10.0%

WHEN WILL BE THE BEST TIME TO BUY A HOME IN 2025? (Hint: It’s coming real soon)

National Association of Realtors, 9.17.25

A new study from realtor.com pinpoints why this fall my offer a hidden sweet spot for home buyers.

Mark Your Calendars: The week of October 12-18, as well as its surrounding weeks could offer home buyers a prime time to make an offer on a home.

The recent study finds that next week offers a rare trifecta—more listings, lower prices and less competition—creating an ideal moment for home shoppers to make their move.

With more choices and more bargaining power this will be a great time to get off the sidelines and move on with your Residential Real Estate dreams.

According to Danielle Hale, realtor.com’s chief economist, “I expect this market momentum shift to magnify typical seasonal trends that favor home buyers in the fall.”

She added that according to the survey data, the next few weeks could give potential buyers not only more homes to choose from and fewer competing shoppers, buy also potential average savings of more than $15,000 compared to this summer’s peak prices.

“In a year that’s been the most buyer friendly in nearly a decade, it’s the best window of opportunity for home buyers all year”, Hale says. Especially after a slower than usual summer for home sales, buyer demand may be poised for a rebound if mortgage rates continue to ease and home price increases slow.

6 Reasons to Buy this Fall

More listings. Inventory levels typically peak in early fall, but this year the number of homes for sale has reached the highest point since the pandemic. Active listings nationally climbed above 1 million in late spring—a milestone not seen in years, according to realtor.com. Next week home buyers could see up to 33% more active listings than at the start of the year. Hale noted that “this increase is giving buyers something they haven’t had in years: breathing room. More choices mean less pressure to rush into a decision or waive contingencies, and greater opportunity to find a home that fits both lifestyle and budget.”

Lower prices. Listing prices during the week of Oct 12-18 typically run about 3.4% below the seasonal peak. That could translate into a potential savings of more than $15,000 on a median-priced home of $439,450 (and obviously even more on higher priced homes here in Colorado Springs).

Greater chance of price cuts. About 5.5% of homes tend to see price reductions during that week, according to realtor.com’s research and economists say recent trends suggest even more discounted listings could emerge this fall.

Less competition. Buyer demand has cooled in 2025 as affordability challenges and elevated mortgage rates have weighed on the market. If this October follow typical patterns, however, competition could be about 31% lower than during the peak season, easing pressure on buyers to make rushed offers.

A slower pace of sales. Homes are taking longer to sell—another sign buyers have more time to make decisions. The U.S. median times on the market passed pre-pandemic norms this summer and Colorado Springs saw the same increased days on the market as well. In October, homes typically spend about two weeks longer on the market compared with peak season. However, certain “in demand” homes continue to attract strong attention, and nationally, in July, 21% of homes still sold for above the asking price. Here in Colorado Springs, we have seen most homes selling for close to listing price but “in demand” homes are still selling for over that.

More newly listed homes. Besides higher overall inventory, mid-October also tends to bring a wave of new listings. About 16% more homes typically debut this time of year, giving buyers additional opportunities to find a match.

Timing the Market?

While fall generally brings better deals for buyers, the “best time to buy” ultimately depends on the local market dynamics—especially since affordability challenges continue to shape how and when people move.

I’ve personally been seeing things starting to pick up more in the last month than I’ve seen all year which to me is an indication that folks are tired of staying put and are ready to at least figure out if now is the time for them to make their move.

Once again, you can’t know what is right for your situation unless we sit down and run numbers to see what is possible for you and your family.

Call me sooner than later and I’ll be happy to help you determine if this is the “right” time for you to make your move.

ERA SHIELDS QUARTERLY “ON THE HOME FRONT”

VOLUME 3, 2025

Here is a copy of my company’s quarterly newsletter.

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, September 2025

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.

UCCS ECONOMIC FORUM MONTHLY DASHBOARD

Updated September 2025, UCCS College of Business/Economic Forum

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.

HARRY'S BI-WEEKLY UPDATE 9.9.25

Tue, 09 Sep 2025 01:00:00 GMT

September 9, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

A LOOK BACK SOMETIMES HELPS PUT THE PRESENT INTO PERSPECTIVE

As you might have read in recent days, mortgage rates have fallen to the lowest average in nearly a year with Freddie Mac reporting the following national averages with mortgage rates for the week ending September 4:

30-year fixed-rate mortgages: averaged 6.50%, dropping from the prior week’s 6.56% average. A year ago, 30-year rates averaged 6.35%.

15-year fixed-rate mortgages: averaged 5.60%, falling from the prior week’s 5.69% average. Last year at this time, 15-year rates averaged 5.47%.

The National Association of Realtors (NAR) is predicting that mortgage rates will remain in the mid-6% range this year and possibly decline to 6% in 2026. A drop in the Fed Fund rate could see a domino effect into the mortgage market but it’s not a one-to-one and won’t necessarily happen overnight according to Jessica Lautz, deputy chief economist at NAR.

In 1972 when I purchased my first home here in Colorado Springs, it cost $25,100 and when it was time for closing, the mortgage interest rate had fall from 9% to 8.5%. Salaries were not what they are today—you were fortunate to earn even $10,000 a year-- and the $239 monthly PITI payment was a lot for me at that time. I had even wondered whether I would qualify.

However, as my home appreciated, I was able to use the equity to purchase my second home and then once more, a third one where I still reside.

I tell you this because purchasing a new home, while obviously more expensive, involves the same steps I had to take back then. Today’s interest rates are lower than my initial rate and of course, salaries are substantially higher than in those days.

Home buying, whether a first home or a fifth one, is a “process” and while I can certainly attest that first-time buyers are finding it more and more difficult, there are many variables to consider and numerous ways to make it happen.

My 53 plus years in the local Residential Real Estate arena along with my investment banking background, makes me more than qualified to help my clients find the best solution to their housing needs. I can also help direct them to lenders that they might not find on their own who can provide the best mortgage solution tailored to them.

If you’ve even thought about buying a home, either for the first time or to trade up or move to a new neighborhood, now is a great time to start thinking about it.

But you won’t know what’s available for your personal situation until we get together and figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.

Why not give me a call today at 719.593.1000 or email me at Harry@HarrySalzman.com and together let’s see how your Residential Real Estate dreams can become reality in the best time frame and for the best financial situation for you?

And….

If you’ve got three minutes and three seconds, I recommend that you watch my newest Residential Real Estate podcast featuring ME, of course.

Simply click on the link below and you will be directed to my personal YouTube channel:

https://youtu.be/sS27jyHsDcg

While you’re at it you might want to subscribe to my channel, so you won’t miss future broadcasts. It won’t cost you anything…well, it could cost you… if you miss some of my informative musings.

And now for statistics…

AUGUST 2025

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

Here are some highlights from the August 2025 PPAR report:

In El Paso County, the average days on the market for single family/patio homes was 40. For condo/townhomes it was 59.

Also in El Paso County, the sales price/list price for single family/patio homes was 98.9 % and for condo/townhomes it was 98.6%.

In Teller County, the average days on the market for single family/patio homes was 57 and the sales/list price was 99.0%.

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 August 2025 to August 2024 for All Homes in PPAR:

Single Family/Patio Homes:

New Listings were 1,459, Down 9.1%
Number of Sales were 1,039, Down 2.3%
Average Sales Price was $566,443, Up 1.4%
Median Sales Price was $480,000, Down 2,0%
Total Active Listings are 4,139, Up 24.7%
Months Supply is 4.0

Condo/Townhomes:

New Listings were 250 Up 0.4%
Number of Sales were 164, Up 4.5%
Average Sales Price was $346,232, Down 5.1%
Median Sales Price was $328,500, Down 5.4%
Total Active Listings are 684, Up 14.6%
Months Supply is 4.2

AUGUST 2025 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 0.9%

Median Sales Price for All Properties was Down 3.2%

Active Listings on All Properties were Up 15.9%

ERA SHIELDS STAT PACK

Data through 8.2025, ERA Shields

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, August 2025

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.

UCCS ECONOMIC FORUM MONTHLY DASHBOARD

Updated August 2025, UCCS College of Business/Economic Forum

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.

HARRY'S BI-WEEKLY UPDATE 8.26.25

Mon, 25 Aug 2025 01:00:00 GMT

August 26, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

MORTAGE RATES ARE SLOWING COMING DOWN AND LOCAL LISTINGS ARE UP...BUT SALES ARE STILL SLOW

Mortgage rates hit their lowest mark of 2025 with the long-term rate falling to 6.58% last week, and it is providing a bit of a boost to homebuyers. That was the fourth week in a row that rates have come down, and here’s hoping that continues for the near future. The current rate is now at its lowest level since October 2024, when it averaged 6.54%. Whether or not this is going to get the ball rolling on our basically stagnant Residential Real Estate market is yet to be seen.

Home sales surprisingly rose nationally and here in July while prices eased a bit.

There are more properties on the market, so it appears that even though the spring buying and selling season was somewhat of a bust, it appears that folks might now be ready to make their move (literally).

This week the National Association of Realtors (NAR) came out with a “dashboard” --statistics in graph form-- for various cities. I found them to quite interesting and have reproduced several pages below for you to get an idea and you can click here to see all of the graphs concerning Colorado Springs.

I think you will find all of the charts informative and if you have any questions, please give me a call.

With more properties on the market at present, as a buyer you can use that to your advantage. If you want to make a move, your best bet is to focus on your personal situation—not what the you hear on the news or from well-minding friends or relatives.

If you’ve even considered a move in the last year or more NOW is the time to begin. You might be surprised to find that the possible increased equity in your present home could provide you with a greater down payment, which in turn will result in less of a monthly output than you might expect.

But you won’t know anything unless you get together with me and we figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.

I am a leading authority in the Residential Real Estate industry and keep my clients and visitors well-informed, thus enhancing their ability to make timely and effective real estate decisions.

COLORADO SPRINGS IS RANKED #49 OUT OF 228 MEASURED METRO AREAS IN THE RECENTLY PUBLISHED NAR SURVEY

The National Association of Realtors, 8.12.25

In the recently published quarterly report from the National Association of Realtors (NAR), single-family, existing-home prices grew in 75% 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 1.7% to $429,400.

Also compared to a year ago, the median price of single-family homes in Colorado Springs rose 0.2% to $480,600 per NAR. This price reflects detached, single-family and patio homes but not townhomes or condominiums. Considering that 24% of the measured markets experienced declining home prices, at least our median price improved just a bit and is higher than the national average.

The median home price increase in the Springs ranked 49^th highest of the 228 cities surveyed.

To see all 228 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.

WHAT MORTGAGE RATE WILL GET MORE BUYERS MOVING? PLUS, A HOUSING FORECAST…

NAR Magazine, 8.13.25

NAR’s latest forecast indicates that about 5.5 million more households would be able to a afford median priced home if the 30-year mortgage rate dropped to 6%. This number includes 1.6 million renters. If rates were to hit that number, it’s likely that 10% -- or 550,000 – of those additional households would buy a home over the next 12 to 18 months, according to new data from NAR.

NAR forecasters are saying that rates could dip to the sweet spot of 6% by 2026 and that could drive home sales up 14% in 2026.

So, should you wait if you are wanting to buy? That depends. Buyers who are holding out for lower interest rates may be missing out.

Following years of declines, housing inventories are finally rising across the country as well as here in Colorado Springs, giving buyers a greater choice than they have had in many years.

As a result, home shoppers may find they have more bargaining power and some real estate brokers are even seeing price drops as seller competition heats up.

And with home values continuing to appreciate, it could cost you to wait if the price of the home you want costs more later.

According to Lawrence Yun, chief economist for NAR, current homeowners remain the biggest beneficiaries of the housing market, enjoying record-high real estate net worth.

“Through real estate, more Americans are gaining financial security,” Yun said. “Real estate net worth is on solid ground, based on the low delinquency rate and even lower foreclosure rate conditions.”

The Housing Forecast: 2025 and 2026

Since mortgage rates remain stagnant, NAR downgraded its housing forecast for the remainder of 2025—but upgraded its forecast for 2026 on the expectation that rates will continue to come down. Yun presented the following outlook for the housing market:

Existing-home sales:

2025: +3%
2026: +14%

New home sales:

2025: +5%
2026: +5%

Median home prices:

2025: +1%
2026: +4%

Mortgage rates:

2025: 6.7%
2026: 6%

Jobs:

2025: +1.6 million
2026: +2 million

Keep in mind this is a national forecast and traditionally Colorado Springs has exceeded the national average in terms of prices and sales.

As for first time buyers, they made up only 24% of the market last year—a record low, compared to the historical norm of about 40%. However, they, too, are slowly returning, currently accounting for 30% of home purchases in May, according to Jessica Lautz, NAR’s deputy chief economist. She attributed this to more stable mortgage rates (hovering around the mid to high 6% range since January) and increased housing inventory.

All-cash buyers stay strong: they now make up over 25% of the housing market, with one-third of repeat buyers—primarily baby boomers—buying homes without a mortgage. Many are using equity from prior home sales, Lautz reported.

Interestingly, Lautz noted that one in 10 first-time buyers are also paying all-cash for a home purchase, drawing from personal savings, inheritance, financial gifts from their parents and investments, like stocks and 401(k)s.

This is depicted below:

HARRY'S BI-WEEKLY UPDATE 8.7.25

Thu, 07 Aug 2025 01:00:00 GMT

August 7, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

LET ME START WITH A NOTE TO POTENTIAL SELLERS:

I’ve had a number of questions from clients who are considering selling their present home to either trade up or move to a new location.

Most of them are worried about selling in today’s market and wondering the best strategy. And quite honestly, strategy is exactly the right word.

When pricing a home for sale, it’s both an art and a science. The price you choose isn’t just a number—it’s a strategy. And in today’s market, that strategy needs to be sharp.

With the number of homes for sale escalating, buyers have more choices than they have had in several years and they can be more selective. If you haven’t priced your home in line with what buyers are seeing out there, it’s likely to be overlooked.

More and more, sellers today are finding that out the hard way and wanting to list their home based on how things were a year or two ago—or based on a neighbor’s sale that happened under completely different circumstances.

When their home doesn’t sell as quick as they would like they are left with several choices; drop the price, take it off the market, or rent it out.

None of those options may have been part of the original plan but pricing it right from the start is your best move for success and that’s an area where I can greatly assist you.

Some areas of the country are seeing a lot of price cuts and while Colorado Springs ranks better than most in that category, we are still finding it takes a lot longer than even in the recent past to get a home sale to closing.

I can give you a personal example, having put a home I had used as a rental for many years on the market.

When my tenant left, I decided it was time to sell, but first the home needed a complete renovation in terms of appliances, flooring, paint and more. This took about 2 months and by the time I put the home on the market it was not the “ideal” spring and summer selling season. It was late October.

It was a great house in a great neighborhood and priced at what I thought would be ideal for a sale, especially for a first-time buyer. Well, what I thought was one thing and because of the timing or because of mortgage interest rates or whatever, I ended up lowering the price several times and had to wait until the holiday season was over before the home sold.

I share this so you understand that this is something that is happening to most everyone, even me, and it takes patience to get a home sold today.

It’s a tough market for sure, but pricing, timing and working with someone like me who understands the local market is a must for anyone looking to sell their home today.

What is this leading to?

If you have even considered a move in the last year or two, it’s most definitely worth finding out how you can make that possible.

It might take you a bit longer to sell your present home, but it could be easier to find the next one and there are ways to make both work to your advantage.

And with interest rates holding and projected to go down, you might want to listen to my podcast to see how you can make even the current rates work in your favor since home appreciation should make up the difference between today’s interest rate and that projected by year’s end.

If you’ve got two minutes and thirty-two seconds, I recommend that you watch my newest podcast.

Simply click on the link below and you will be directed to my personal YouTube channel:

https://youtu.be/IpnLvZWe818

In any case, you won’t know what’s available in your personal situation until we get together and figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.

My 53 years plus in the local Residential Real Estate arena, makes me more than qualified to help my clients find the best solution to their housing needs so why not give me a call today at 719.593.1000 or email me at Harry@HarrySalzman.com and together let’s see how your Residential Real Estate dreams can become reality in the best time frame for you.

And now for statistics…

JULY 2025

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

Here are some highlights from the July 2025 PPAR report:

In El Paso County, the average days on the market for single family/patio homes was 36. For condo/townhomes it was 52.

Also in El Paso County, the sales price/list price for single family/patio homes was 99.1 % and for condo/townhomes it was 99.0%.

In Teller County, the average days on the market for single family/patio homes was 51 and the sales/list price was 98.0%.

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 July 2025 to July 2024 for All Homes in PPAR:

Single Family/Patio Homes:

New Listings were 1,654 Up 0.9%
Number of Sales were 1,152, Up 2.2%
Average Sales Price was $574,276, Up 0.5%
Median Sales Price was $497,475, Down 0.3%
Total Active Listings are 4,227, Up 29.1%
Months Supply is 3.7

Condo/Townhomes:

New Listings were 272, Up 10.6%
Number of Sales were 142, Down 2.1%
Average Sales Price was $390,355, Up 2.3%
Median Sales Price was $339,950, Down 4.2%
Total Active Listings are 711, Up 19.3%
Months Supply is 5.0

JULY 2025 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 Down 0.6%

Median Sales Price for All Properties was Down 1.0%

Active Listings on All Properties were Up 21.3%

THE FIVE YEAR RULE FOR HOME PRICES…an infographic

Keeping current matters 7.15.25

Some Highlights:

If home price headlines have you worried, here is some perspective.

Home values almost always go up in the long run, even better than stocks and bonds as I’ve always told you. Basically, if you plan to live there for 5 years or more, you should be able to buffer yourself against any short-term declines, if any.

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, July 2025

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.

UCCS ECONOMIC FORUM MONTHLY DASHBOARD

Updated July 2025, UCCS College of Business/Economic Forum

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.

HARRY'S BI-WEEKLY UPDATE 7.29.25

Tue, 29 Jul 2025 01:00:00 GMT

July 29, 2025

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential Real Estate Market

MORE OF THE SAME….AND SOME PREDICTIONS…

Not often the case, but recently Colorado Springs is mimicking what’s happening all over the U.S.A. in terms of Residential Real Estate.

We currently have more inventory than we’ve had in ages, but homes just aren’t selling very fast. In fact, quite the opposite. However, the good news is that homes keep appreciating, although at a more normalized pace than in the last several years.

I was listening to a podcast by Lawrence Yun, chief economist at the National Association of Realtors (NAR) and he was talking about a survey of 88 million homeowners that was done by NAR.

The results showed that 35.2% of those homeowners have no mortgage—either they paid cash for their home or paid off the mortgage on that home. That left 52.8% of those who did have mortgages.

A record of “high net worth” of those who owned homes was also indicated in the survey. Therefore, as homeowners you should be proud that you are among the “high net worth” folks.

This was no surprise to me as a family’s home is most often their greatest asset and over time, most home values have increased faster than stocks and bonds. This is even more true today as homes keep continuing to appreciate.

And speaking of appreciation, there are a number of folks who have been waiting for home prices to decrease, along with lower mortgage rates, before jumping into the market.

Well, I’ve got some news for you…it just isn’t in the cards for those two things to happen anytime soon, if ever again.

Homes might be dipping a bit in some markets, but not here in Colorado Springs and those waiting for bigger dips need to face the facts. While home price growth is slowing down, that doesn’t mean we’re headed for a crash. As the National Association of Homebuilders (NAHB) explained:

“House price growth slowed…partly due to a decline in demand and an increase in supply. Persistent high mortgage rates and increased inventory combined to ease upward pressure on home prices. These factors signaled a cooling market, following rapid gains seen in previous years."

However, experts say that even with the slowdown, prices will still rise this year nationally as well as here in Colorado Springs.

The average of 8 leading forecasters shows prices are expected to go up 1.5%-2% nationally in 2025. See below:

That means, if you’re waiting for a major drop, most experts agree that’s just not in the cards.

Plus, those small changes are not so important when you consider how much home prices have climbed over the past few years. Data from the Federal Housing Finance Agency (FHFA) shows prices are up 55% nationally compared to just five years ago.

If you can read between the lines, and as I’ve said all along, the best time to buy a home is NOW—no matter when “now” is. Homes will continue to appreciate and the sooner you buy, the sooner you will start earning appreciation.

Now about mortgage rates.

Once again, there are some who are waiting for rates to come down before looking to buy. According to Yahoo Finance:

“If you’re looking for a substantial interest rate drop in 2025, you’ll likely be left waiting. The latest news from the Federal Reserve and other key economic data point toward steady mortgage rates on par with what we see today.”

To put it bluntly, don’t try to time the market or wait for a drop that may not be coming.

Most experts say rates will remain in the 6’s and current projections have them settling in the mid-6% range by the end of this year. See below:

Once again, those of you that have been “on hold” are watching homes continue to appreciate while waiting for interest rates to fall and realizing that waiting is costing you, most especially in the home appreciation that’s happening to a home you might want to purchase while you wait.

If you’ve been wanting to explore how you can sell to trade up or move to a new neighborhood, I can help you determine if now is the right time to do so and if it is, can help you navigate the Residential Real Estate waters.

I can almost always find a way to help my clients get what they want, need and can afford no matter the state of the current market.

If you’ve even considered a move in the last year or more the time to start is NOW. You might be surprised to find that the possible increased equity in your present home could provide you with a greater down payment, which in turn will result in less of a monthly output than you might expect.

I am a leading authority in the Residential Real Estate industry and keep my clients and visitors well-informed, thus enhancing their ability to make timely and effective real estate decisions.

HOME SALES HIT NINE-MONTH LOW

Reuters, 7.24.25, The Wall Street Journal, 7.24.25

The key spring buying and selling season turned out to be a dud this year as mortgage rates weighed on activity.

While home prices rose to a record high in June, a housing market recovery in 2025 is looking less and less possible.

The usually busiest time of year for Residential Real Estate saw sales at a nine-year low. Home appreciation and high interest rates have made home purchases unaffordable for many.

High prices have contributed the most to the sluggish market. However, with more homes coming on the market, the previous seller’s market is now turning into a buyer’s market.

This is great news for those looking to move. The days of bidding wars and buying homes sight unseen are gone and there is a lot more room for negotiation these days.

So once again, if you’ve been thinking of making a move, it’s most definitely worth finding out how to make it happen. There are a lot more homes to choose from and my expertise in negotiation can greatly help in this buyer’s market.

ERA SHIELDS QUARTERLY STAT PACK

Data through Quarter 2, 2025, ERA Shields