Your Home Sold Guaranteed Realty - Barb Has the Buyers Team

719-301-1802

Colorado Housing Prediction For Summer 2024 – FED Fails To Lower Rates

Colorado Housing Prediction

The Federal Reserve’s decision to keep interest rates unchanged is sending shockwaves through the Colorado housing market this summer. After months of anticipation that rates might finally start to ease, homeowners looking to sell and prospective buyers are grappling with the realities of a higher lending rate environment. In this blog post, Colorado real estate expert Barb Schlinker gives her housing prediction and expectations for the market now that the FED kept the rates unchanged.

Key Takeaways

  • With a 15% sales decline and growing inventory, Colorado sellers must price strategically to move properties
  • Factors like staging, pre-inspections, marketing, and agent selection are crucial for a successful sale 
  • Slow showing activity likely signals the need for a price adjustment to align with the higher rate reality
  • Buyers face affordability constraints but can find value by negotiating on listings that have been sitting

The Pricing Reality for Sellers

For sellers, this presents some significant challenges. With mortgage rates still hovering around 6-7%, buyer demand has cooled substantially compared to the red hot market of the last few years. According to expert Colorado realtor Barb Schlinker, the state is experiencing “a surge in inventory coupled with a 15% decrease in sales” due to the unchanged Fed rates making home purchases less affordable.

This dynamic means sellers absolutely must price their homes realistically and competitively to attract the reduced buyer pool effectively. Gone are the days of pushing ambitious listing prices – overpriced properties will likely languish on the market. Barb Schlinker emphasizes “it’s essential to understand local market dynamics to position homes for success.”

Key Factors for a Successful Sale 

So what factors should sellers focus on? Proper preparation for listing is key, from staging to pre-inspection repairs. But accurate pricing based on recent comparable sales is paramount. Effective marketing promotion across online and offline channels is also critical to maximizing visibility. And choosing the right real estate agent with experience navigating this type of market can make or break your sale.

Signs You May Need a Price Adjustment

If you’ve listed already but are seeing slow showing activity, that may indicate the need for a price adjustment in line with the higher rate realities. Consistent feedback from showings and analysis of the competition can inform appropriate changes.

Housing Prediction: Opportunities for Buyers Despite Higher Rates

For prospective buyers, the higher rate environment impacts affordability but can also open up better value opportunities compared to the frenzy of recent years. Although higher mortgage costs are painful, negotiating reasonably on properties that have been sitting can balance out some of that pain.

The Importance of Expert Guidance – Contact Expert Realtor Barb Schlinker

Whether buying or selling, expert real estate guidance is invaluable for navigating this transitional market. Professionals like Barb Schlinker offer free consultations to help sellers understand their best positioning based on neighborhood conditions. And for buyers, agents can identify smart opportunities while advising on mortgage options like ARMs to increase purchasing power.

The Fed’s rate decision has undoubtedly shifted dynamics in Colorado real estate. But with the right preparation, pricing, promotion, and partnerships, buyers and sellers can still achieve their goals, even amidst higher lending costs. An open mindset and commitment to consistent reevaluation based on market data will be critical this summer and beyond.

Our real estate experts at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team use our skills, experience, and knowledge of the local market to ensure your home sells fast and for top dollar. Our team also uses the strongest marketing strategies so that you can rest assured that your home sells as fast as possible.

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!

Who Is Barb Schlinker?

Colorado Housing Prediction Summer 2024 - Interest Rates Unchanged
Barb Schlinker

After serving in the Navy for many years, including the intelligence field, Barb Schlinker became a realtor in her local, Colorado Springs area. She’s a seasoned leader, an author, pilot, mother, and business woman.

Barb is also the host of the weekly radio show: Your Real Estate Voice, where she provides valuable information about buyer and selling homes. The show airs every Saturday from 12-1pm on KVOR AM 740, KNUS AM 710, AM1300 Sports Talk, and AM 990 Talk. This popular show is also available for Podcast Download with over 5000+ downloads to date. You can download Barbs show in all the popular podcasts sites here: https://www.buzzsprout.com/345377/share

Loading

Address
Name(Required)
This field is for validation purposes and should be left unchanged.
*Requested information will be sent by text and email.
Call/Text Now: 719-301-1802