HARRY'S BI-WEEKLY UPDATE 3.28.25
March 28, 2025
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.
I TOOK A FEW DAYS OFF FOR BASEBALL SPRING TRAINING IN PHOENIX BUT CAN NEVER STAY AWAY FROM YOU FOR TOO LONG…
It was nice to get away from the cooler weather for a bit but always nice to come back home as well. I’m always optimistic that my “Colorado Rockies” are going to surprise me and win a few, but it usually isn’t in the cards.
However, my optimism does pay off more with it comes to Residential real estate and I’ve got a lot of things to share with you.
The “traditional” spring buying and selling season is just getting underway and it appears that it’s going to be considerably busier than the last several years.
There are several reasons for that. First of all, those waiting for interest rates to go back to the historical lows of a few years ago and have been sitting tight are finally realizing that it’s not likely to happen any time soon, if ever again.
Secondly, those waiting to sell and trade up or move to a new neighborhood but who do have those low rates now are considering their options. They can stay in a home they have outgrown or one that is too big or in a place where they no longer wish to live. They can watch while homes they might want to buy keep appreciating in value. Or…they can jump in full steam and know that their new home will also keep appreciating in value and when interest rates fall a bit they can likely refinance at a lower rate.
Lots of varied reasons for lots of different folks, but I am seeing a lot more interest and movement than in the recent past.
The higher interest rates and previous lack of existing homes for sale have keep some folks out of the market but we are seeing rates easing a bit and hopefully will continue to do so throughout the rest of the year. We are also seeing more folks putting their present homes up for sale which is creating a better market for all.
NOW is the time to start your search if you’ve even considered a move in the last year or more. You might be surprised to find that the possible increased equity in your present home will 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.
There are many ways to find the best financing as well and my almost 52 years in the local Residential real estate arena, along with my background in investment banking, gives me a heads up on most when it comes to finding the best deals for my clients.
And did I mention my superior negotiation skills? Well, not to brag, but they don’t call me “Mr. Negotiator” for nothing and it gives me great pleasure to get the best of everything possible for my clients.
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…if you’ve got two minutes and 46 seconds, I recommend that you take a look at my newest podcast on forecasts.
Simply click on the link below and you will be directed to my personal YouTube channel.
To watch, click here:
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!
You can CLICK HERE to view the slides I refer to in my podcast from the National Association of Realtors (NAR) presentation of March 21, 2025. I think you’ll find them informative. Please give me a call if you have any questions.
U.S. NEW HOME SALES REBOUND IN FEBRUARY
The Gazette, 3.26.25
New homes sales nationally increased 1.8% to a seasonally adjusted annual rate of 676,000 units last month according to the Commerce Department’s Census Bureau. Warmer weather and a decline in the mortgage interest rates pulled buyers from the sidelines. Sales in January were revised up from their previously reported numbers as well.
Economists polled by Reuters had forecast new home sales, which make up about 15% of U.S. home sales, would rise to a rate of 679,000 units. These homes are counted at the signing of the contract and they rose 5.1% on a year-on-year basis in February.
Existing homes sales rose 4.2% in February from January to seasonally adjusted annual rate of 4.26 million units, according to the NAR.
As I mentioned earlier, nationally as well as locally, inventory for existing homes for sale has been rising as properties are taking longer to sell. Homes nationally typically remained on the market for 42 days last month, up from 41 in January and 38 days last February. In El Paso and Teller counties homes have remained on the market even longer than that in recent times.
This, however, was prior to the beginning of the traditional buying and selling season and I suspect sales will improve over the next 4-5 months.
YOUR ROADMAP TO HOMEOWNERSHIP…an Infographic
Keeping Current Matters, 3.21.25
SOME HIGHLIGHTS:
- Buying a home isn’t just a transaction—it’s a journey. And like any great adventure, having a solid roadmap makes all the difference.
- From your first meeting with me to getting pre-approved, house hunting and signing papers on closing day—each milestone is an achievement.
- Your journey starts with a call to me so I can help make each step of the way easier and less stressful for you.
ECONOMIC & WORKFORCE DEVELOPMENT REPORT
Data-Driven Economic Strategies, March 2025
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 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 March 2025, 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.
ERA SHIELDS STAT PACK
Data through February 2025, 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.
