Spring housing market off to a slow start for mountain towns
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The spring housing market in Colorado's mountain towns is off to a slow start due to rising mortgage rates and a lackluster winter tourism season. Despite this, statewide sales remain steady, with stable pricing and rising inventory.
Colorado's mountain town housing markets are experiencing a slow start to the spring season, typically a busy time for home listings. Rising mortgage rates and a poor winter tourism season have contributed to buyer uncertainty. Statewide, new listings rose 0.8% to 12,800 in March, while pending sales increased 7.2% to 9,540. The median sales price fell just under 1% to $545,000. However, active inventory for single-family homes and condos is slightly lower than last year, at 25,367. Rural ski resort markets on Colorado's Western Slope have been particularly affected by record-low snowfall and lower tourism.
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