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After 27 years as a full-time REALTOR here in Colorado, I’ve seen the market shift in all sorts of ways—but right now, we’re experiencing a unique kind of standstill. Higher mortgage rates are making it harder for buyers to justify those monthly payments, so many are choosing to wait on the sidelines. At the same time, pending sales have lost momentum—fewer folks are moving from browsing to actually making offers. On the flip side, homeowners with lower, locked-in rates aren’t eager to list their homes and give up that advantage. The result is a true housing stalemate: buyers are holding out for better terms, sellers are reluctant to part with their current loans, and overall transactions have slowed to a crawl. Through it all, my goal remains steady: to offer you the integrity, knowledge, and professional service you deserve as you navigate this challenging landscape.

Luxury home sales are truly a tale of contrasts across the US right now. Recent data from a listings platform highlights just how wide the price range can be—top recorded transactions span from $3.7M all the way to an impressive $130M. Some markets saw leading sales at $47M, $40.2M, $40M, $21.2M, $19M, $18M, and $17.5M, each reflecting the unique character and demand of their local area. What stands out to me: In four major metros, even the fifth-highest sales surpassed $10M, underscoring the depth of luxury demand in those cities. One market, in particular, showed a tight cluster of high-end sales, with its five priciest homes ranging from $24M to $40M. It’s important to note these figures reflect publicly marketed properties—private deals and nondisclosure markets may mean the real numbers are even higher. After nearly three decades helping buyers and sellers navigate the Colorado market with integrity and deep experience, I find these trends fascinating and a reminder of just how dynamic luxury real estate can be.

Over my 27 years as a full-time REALTOR, I’ve seen firsthand how cash sales often act as an early indicator for shifts in our housing market. Lately, cash transactions have accounted for about 25% of all US existing-home sales. Why is this important? Unlike mortgages or new construction data, cash deals offer a faster, clearer signal of market sentiment.

When more buyers are bringing cash—even as prices rise—it’s a clear sign of heated competition. But if cash sales increase while overall volume drops, it often means financing is getting tougher, sidelining buyers who need loans. On the other hand, if the share of cash purchases falls but prices remain steady, it could suggest credit conditions are easing, allowing more traditional buyers to return, and with them, a more balanced market.

Many smaller cash investors focus on properties tied to probate, tax issues, deferred maintenance, or relocations. With today’s affordability challenges, even older homes remain in high demand, especially when financed purchases slow down.

Single-family investing in the US is never one-size-fits-all. Local taxes, title insurance, renovation costs, and hands-on property management all impact success—making it tough to scale up, but rewarding for those who really know their local neighborhoods. Looking forward, I expect to see more margin consolidation rather than large-scale roll-ups, and international investors will likely do best by partnering with experienced local professionals rather than going it alone.

My commitment remains: to deliver the integrity, knowledge, and professional service clients deserve, especially as market dynamics evolve.

September brought a few notable shifts in the U.S. housing market. Pending home sales turned slightly negative year-over-year, which ended an eight-month stretch of gains. It’s a sign that higher borrowing costs have started to cool buyer activity, and I’ve seen similar patterns here in Colorado. Contract signings softened compared to last year, homes now take about 60 days to sell, and mortgage rates have moved up—from around 6% in late Q1 to the high-6% range recently.

On the flip side, buyers have found a bit more leverage. The median list price slipped to $424,500, price cuts are happening on nearly 20% of listings, delistings have decreased, and active inventory is up about 4%. Yet even with more homes available, national inventory remains roughly 11% below typical pre-pandemic levels. Beneath the surface, the U.S. still faces an ongoing housing shortage despite buyers’ hesitation.

Industry experts, myself included, are keeping a close eye on seller delistings, shifts in pricing strategies, and how regional trends might continue to narrow as both buyers and sellers adapt to firmer borrowing costs. After nearly three decades in real estate, I know that understanding these signals is key to making informed decisions, no matter which side of the transaction you’re on.