Tag: mortgage rates
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Homebuilding rose last year in Colorado Springs, but the housing market faces challenges in 2025
Colorado Springs-area home construction rebounded in 2024 from the previous year, though one local builder labeled last year’s activity as just so-so, while uncertainty about mortgage rates and Trump administration policies on tariffs and immigration could pose challenges for the industry in 2025. Building permits issued for the construction of single-family, detached homes mostly in…
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Colorado Springs housing market positioned for better times in 2025, real estate expert says
Colorado Springs-area home sales that have slumped in 2024 largely because of higher mortgage rates could rebound next year under a new Trump administration as economic conditions improve, borrowing costs moderate and demand for housing increases, one longtime real estate agent predicts. “Some people are going to say, ‘well, maybe it’s time to think about…
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UCCS Economic Forum: Fact over fiction says there’s reason for cheer around Colorado Springs
Over the past year, Bill Craighead has found himself in the unfamiliar position of telling people to cheer up about the economy. “We economists have a reputation for being curmudgeons who, if somebody has an idea, might rain on people’s parade by pointing out hidden costs and unintended consequences,” Craighead told an audience of more…
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Housing inventory climbs, but Colorado Springs-area home sales remain soft
The number of Colorado Springs-area homes listed for sale last month reached a nine-year high, though a larger inventory of properties from which to choose didn’t necessarily translate to more sales as prices and mortgage rates remained high for some buyers. A new Pikes Peak Association of Realtors market trends report showed home listings totaled…
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Colorado Springs home sales slump again in March, report shows
Colorado Springs-area home sales fell again last month as spiking mortgage rates continued to keep homes out of reach for some buyers. Sales totaled 941 in March, a 12.5% decline from the same month last year, a new Pikes Peak Association of Realtors market trends report shows. Except for a slight bump in February, year-over-year…
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Colorado Springs home prices expected to remain stable in 2024 — but could apartment rents fall?
Facebook Twitter WhatsApp SMS Email Print Copy article link Save Colorado Springs’ single-family home and apartment markets appear headed in different directions, which could mean more frustrating news for buyers, but a better outlook for renters. Like last year, homebuyers in 2024 could continue to find a tight supply of properties for sale, while high…
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Colorado Springs home prices expected to remain stable in 2024 — but could apartment rents fall?
Colorado Springs’ single-family home and apartment markets appear headed in different directions, which could mean more frustrating news for buyers, but a better outlook for renters. Like last year, homebuyers in 2024 could continue to find a tight supply of properties for sale, while high prices of the past several years aren’t expected to come…
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Meet the new year, same as the old year; Colorado Springs home sales fall again in January
The new year looked a lot like the old year last month for the Colorado Springs-area housing market, as the pace of buying and selling slumped again and prices remained relatively stable. Even so, some local real estate agents are optimistic that the market is poised to rebound in 2024 as long-term mortgage rates decline.…
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Colorado Springs’ housing market slogs through tough 2023; optimism grows for 2024 rebound
Year-end numbers underscore what many homebuilders and real estate agents already knew: 2023 was a tough year for the Colorado Springs-area housing market. “We expected a downturn in 2023, but the downturn was quite a bit more than we anticipated,” said Ed Gonzalez, executive vice president of Campbell Homes, one of the Springs’ oldest locally…