Last month, we saw prices decline by 2.3% while active listings increased by 3.7% month over month. On September 18th, the Fed surprised many by reducing rates by 50 basis points. While this rate cut was already priced into mortgage rates, it did increase buyer demand. Mortgage purchase applications have risen for five consecutive weeks leading to a 3.6% increase in homes going under contract. However, this uptick wasn’t enough to counter the typical seasonal slowdown in the real estate market.

Historically, the "best week" to buy a home is from September 29th to October 5th, followed by the two weeks after. Why? This period typically offers the best balance between available inventory and the number of active buyers. From October to December, inventory tends to decline—not because of homes going under contract but because many sellers pull their homes off the market as the holidays approach. Listing agreements with Realtors expire, and sellers often choose to re-list after the New Year.

When I work with buyers, I always recommend getting a homeowners insurance quote as soon as they go under contract. Recent data reinforces this advice: Colorado now shares the second-highest home insurance premiums with Texas, behind only Florida and Louisiana. For current homeowners, I would recommend re-shopping for homeowners insurance to make sure you are still with the company that is the best fit.

TLDR:

• Buyers: This is the best inventory selection you will see for the remainder of the year.
• Sellers: With rising mortgage applications and pending homes, we still have a window of good buyer activity for this time of the year. This window will close some time in November, and we should consider waiting for the new year to list your home.