Colorado realtors hope interest rate cut jumpstarts lackluster market

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After a slower-than-average summer homebuying season, Colorado realtors hope this week’s interest rate cut will motivate potential homebuyers to seek their dream homes. “Our market waits for …

After a slower-than-average summer homebuying season, Colorado realtors hope this week’s interest rate cut will motivate potential homebuyers to seek their dream homes.

Statewide, the $584,000 median price tag for a single-family home is up 0.7% from $580,000 a year ago. Meanwhile, condo-townhome pricing fell nearly 6% from a year ago to $405,000 from $430,000.The percent of list price received was 98.6%, down from 99% last year. On Wednesday, the Federal Reserve cut interest rates by a half percentage point after a year of keeping borrowing costs at their highest level in more than two decades. This is the first time the Fed has cut interest rates since 2020.

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