DENVER — The largest single factor continuing to impact Colorado’s housing market is the upward trend in interest rates, percentage points that have not been seen in for decades.
“Buyers really have the opportunity to be picky right now. They can spend a full weekend looking at homes before they have to make a decision rather than making a decision on an hourly basis because there's 15 Other people lined up,” said Matt Leprino, spokesperson for Colorado Association of Realtors.
The report showed across Colorado, 5,402 single-family homes sold in September which was down from the 6,975 reported in September 2022. For buyers trying to navigate higher interest rates, one way to save some money is to ask a seller for an interest rate buy down that could potentially reduce your monthly payment for one or two years in hopes that interest rates will eventually go down.