Colorado Spring Real Estate Market Update - Jan 2024 vs Jan 2023

The market hasn't changed much this year. Inventory of available homes went up slightly last week, but rates are on the rise. Until the Fed stops toying with everyone on rates this uncertainty will continue. The Fed doesn't care about the housing market, they car about inflation and employment, but they lie all the time so it's hard to know what will happen to the market based on what they are saying.
Buyers - Choose where you live carefully. It's going to take a lot to get buyers engaged. Many are waiting for the market to crash so they have settled on the fact that homes are overpriced and they will stay on the sidelines until things get worse and rates start to come down. They are looking at all the apartments being built and waiting for deals on rents.
Sellers - If you want to sell, I recommend doing it as quickly as possible. By May and June, there is more competition for homes and there are more sellers than buyers. The US is spending 2 trillion a year more than we collect in revenue so inflation numbers are manipulated to some extent. There is a real chance that prices fall farther.
Thanks for watching. Let's talk real estate. My contact info is below.
Schedule an appointment with me: calendly.com/kevinwade719
If you are considering moving to the Colorado Springs area and need help finding a home in this demanding market, allow me to help. I have lived in this area for 25 years and have spent 20+ years in the real estate and new home industry and have developed relationships that just might help you find the perfect home.
If you are looking to sell, I do a full service job and my commission is negotiable.
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Kevin Wade is an experienced licensed Colorado Springs real estate broker, a residential, new home construction and relocation specialist with The Cutting Edge, Realtors. The largest independent brokerage in Colorado Springs. Serving home buyers and sellers in Colorado Springs, Monument, Peyton, Palmer Lake, Falcon, Fountain and Woodland Park. This is usually the largest financial transaction you will ever make. Experience matters, call me now with any questions.
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[@natashag2454]

Hi, do sellers still need to pay for the buyers agent? What is the pros and cons of doing that? Thank you for your time!

[@homesofcoloradosprings2114]

It’s totally up to the seller. Every commission is negotiable. Most sellers are still paying a commission to the buyer’s agent but a house can be listed in the MLS without a buyer’s agent commission. Most buyers are strapped for cash and don’t have money to pay a commission out of pocket so not much has changed. I do see more buyers agent commissions that are less than 3% so that’s saving sellers some money.

[@natashag2454]

Thank you for answering my question and it makes alot of sense!