February Real Estate: Home Buying and Selling in Colorado

At the beginning of the month, many buyers found themselves in the same place as they were this time last year-seeking to purchase a new home and hopeful for friendlier market conditions. While market conditions have not changed much, sentiment has. This is our market environment, and it's likely here for the foreseeable future. In some ways, that brings stability-decisions become more complex when too many unknowns exist. We expect mortgage rates to remain steady, while price growth has stabilized. Inventory remains a key factor we are monitoring, as the balance between supply and demand is the most significant variable influencing the market right now. 
 
The main highlight for January was the influx of new inventory. Both the attached and detached markets saw an increase of more than 100 percent from December and were up 38.50 and 29.11 percent, respectively, from January 2024. We typically see an increase in new listings from December to January as sellers reenter the market after a slower time during the holiday season. Active inventory at month's end was up 57 percent year-over-year, giving buyers more options as we enter the spring buying season. The median days in the MLS were up 28.57 percent year-over-year to 45 days on market prior to a pending status-the highest median days in the MLS since 2015, a market unfamiliar to many.
 
According to Nerd wallet a record number of people in recent history are planning to buy a home this year.
~Pent-up demand during a tough market may lead to 2025 hopefulness
~Many home buying hopefuls are taking action
~Last year was a tough one for would-be buyers
~Obstacles to buying are different for nonhomeowners and current homeowners
~Affordability is still the #1 obstacle according to prospective homebuyer feedback – team up with a lender that is leading the way in affordable solutions.
 
Link to the article: https://www.nerdwallet.com/article/mortgages/2025-home-buyer-report

Photo is of me and my pilot and the plane I got to ride in during my first segment of "Selling Colorado." I was able to showcase a local neighborhood, get aerial shots from up above, and highlight an upcoming home for sale.