Author: Lee Riley

So far this year, we are about half the normal moisture for the region. I have no snow in my yard…

This can be confusing – the prime rate went down, but mortgage rates went up. The Fed rate and the bond markets are at odds with each other at the moment…

Total year-to-date sales are up 3%, with 302 this year versus 292 last year…

The second happening is the Springs Resort recently completed their expansion project, adding 78 more rooms and 25 more geothermal pools…

Home sales were down 5%, and home sales priced below $600,000 were down 29%…

For the first time in my 20+ years of watching these monthly statistics, the total number of sales year-to-date is exactly the same as it was last year…

Every market is different. Currently, the Pagosa market is more of a buyer’s market…

We still see a lot of cash buyers coming in from out of town. If you need to get a mortgage, rates have been fluctuating above 7%…

The big news is the increase in inventory across the board. Home inventory is up 49% with 107 homes on the market compared to 72 last year…

The biggest issue affecting both sales and inventory in the residential market this year was interest rates…

If you are a potential buyer, this is typically the time of year when prices are at their lowest…

A ton of snow and a late spring will sometimes send folks off looking for a warmer climate…

One issue hurting the market is higher interest rates, which have more than doubled from 3% to 7% and rising…