Mortgage rates started the week completely flat. Not much excitement there, but don’t expect it to stay that way. The rest of the week could bring more movement, especially with some bigger economic news on the horizon.

Locally, I’m seeing inventory levels in Mesa County and across Colorado hit their highest point in quite some time. Listings are up compared to last year, and prices have continued to steadily increase. Homes are sitting on the market longer, and we’re seeing a lot more negotiation on deals than we did last summer.

A lot of buyers are still holding out for that “perfect” mortgage rate, and sellers haven’t fully adjusted to the new reality. The result? More options and a little more leverage for buyers, but the market feels a bit stuck in first gear.

In Mesa County

There are currently 755 active homes on the market in Mesa County. This is a 1% decrease compared to one week ago.

The average sold price YTD is $473,136. 

The median sold price YTD is $409,018. (Up from yearly average of $405/406 because of a 2.9 million dollar sale in Palisade)

Mortgage Rates Today

Note: If you are receiving this unexpectedly it is because you have been placed on a limited distribution of friends and colleagues that I respect and believe will find this information useful