June 23 Pueblo Market Trends


The summer season is in full swing with June showing the largest number of homes for sale this year in Pueblo County coming in at 404. This is up 12% from the May when the number of homes for sale was at 356. For contrast in January there were 281 homes for sale. The median selling price in January was $295,000 and with June’s median selling price of $326,000 this represents a 10% increase in prices since the first of the year.

In May of 2022 we hit the peak in median selling price at $340,000. This is roughly when interest rates were beginning to rise. For the remainder of 2022 we saw a slide in selling prices as mortgage rates rose from their low of 3.83% at the beginning of May 2022 to the rate at 5.68% at the end of 2022. We are still 5% lower in the median selling price from the peak in May 2022.

We expect the Federal Reserve to raise interest rates another 1/4% to 1/2% at their meeting on July 26th.