The Platinum Group, REALTORS®Weldon HobbsColorado Springs | REALTOR®
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Market & Timing

Should I buy now or wait in Colorado Springs?

ByWeldon HobbsTeam Hobbs RealtyPublished Last reviewed

Short answer: Decide based on your life and your finances, not on a guess about the market. If you have a real reason to move, you're financially ready, and you can comfortably afford the payment, buying now is reasonable, and a slower market gives buyers more room to negotiate. As of September 2026, forecasters don't expect mortgage rates to change much through 2027, though no one can predict them reliably. Waiting is the right call when your plans or finances don't line up yet, or when there are too many unknowns to make the decision safely.

Start with why you're moving

Life doesn't wait. If you have your reasons for needing to buy or sell, then do it, as long as you can financially support it.

A home is where we make memories, and we love it. But when you buy or sell, you're entering the marketplace, and it's a business transaction. Sometimes a higher rate or a less-than-perfect market is the cost of doing business.

That's why I use the Life → Wealth → Real Estate™ method to get to the decision: first, why you have to move or want to move; then whether it makes financial sense and fits your long-term goals; then the right property. I don't tell anybody what to do; I give you the questions to consider.

What about waiting for interest rates to drop?

Rates matter, because they change your monthly payment. But waiting for a lower rate is a bet on something no one controls.

As of September 2026, the 30-year fixed rate was in the high 6% range, and Fannie Mae's economists expected it to stay near that level into 2027. I can't predict the future, and neither can the forecasters. At the end of 2025, the same group expected rates of about 6% by the end of 2026. Then global energy and trade shocks pushed rates up in March, and the forecast was raised several times.

You may hear "marry the house, date the rate," meaning buy now and refinance later if rates fall. It can work, but plan the purchase so you're comfortable with the payment you have today. A refinance is a new loan, with its own closing costs, and it requires you to qualify again at the time. Rates might not fall enough, or soon enough, to make it worthwhile.

In Colorado Springs, there's another option worth knowing about: some homes come with an assumable VA loan at the seller's lower rate. See assuming a VA loan in Colorado Springs.

The trade-offs of buying now vs. waiting

Buying now means locking in today's price and today's rate. In a slower market, buyers often have more choices and more room to negotiate on price, seller concessions, and inspection repairs. You start building equity instead of paying rent.

Waiting keeps your options open and lets you save more, build credit, or let your plans settle. But you keep paying rent, and prices and rates can move in either direction while you wait.

There's always risk, whichever you choose. The goal is managed risk: understanding the trade-offs and choosing the one you can live with.

When waiting is the right call

Waiting makes sense when you go through the Life → Wealth → Real Estate™ process and realize you're not ready, when things don't line up yet. It also makes sense when there are too many variables to make a decision like this safely. We help give you the resources to make that call.

A quick readiness check I use with buyers:

  • Stable income you expect to continue.
  • An emergency fund left over after the down payment and closing costs.
  • A plan to stay about five years, or a willingness to rent the home out if you have to move sooner.
  • Buying at fair market value, not stretching to win.

If most of those are true, the market is less important than it feels. If several aren't, waiting may be the better choice, and renting first is always a viable option.

What's specific to Colorado Springs

Orders don't wait for the market. For military families, the timeline is set by PCS orders, not interest rates. The real question is whether buying fits your time here and your plans after it. See how early to start buying before a PCS and whether to sell or rent your home when you PCS.

Local conditions can differ from the national headlines. National reports describe a market that has shifted toward buyers, but what matters is your price range in the Pikes Peak region. See whether Colorado Springs is a buyer's or seller's market for how to read the local indicators, including months of inventory.

Get the monthly Colorado Springs market update

Once a month, Weldon sends the latest local numbers (homes for sale, homes sold, median and average prices, building permits, and foreclosures) and what they mean for buyers and sellers.

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The full monthly cost varies by home. Property taxes, metro districts, HOA dues, and insurance can make two homes at the same price cost very different amounts each month. Base your decision on the payment for the homes you'd actually buy. See how much house you can realistically afford.

A simple way to decide

  • If you have a clear reason to move and pass the readiness check, get pre-approved and look at what's available. See how mortgage pre-approval works.
  • If you're waiting only for rates, ask a lender to show you the payment at today's rate and at a lower one, and decide whether the difference is worth another year of rent and uncertainty.
  • If your income, savings, or plans are uncertain, wait, and use the time to prepare.
  • If you're on military orders, let the length of your assignment and your plans after it drive the decision.
  • If you're unsure, go through the steps anyway. See the steps to buying your first home.

What could change the answer

  • Interest rates. A meaningful move up or down changes the payment and the math.
  • Local inventory. More homes for sale gives buyers more leverage; fewer gives sellers more.
  • Your job or orders. A change in income or location can change everything.
  • Your savings. A larger emergency fund or down payment can make buying safer.
  • Forecasts change. Treat any rate or price forecast as a moving target, including the one on this page.

When to talk with a professional

A lender can show you what you qualify for and what the payment looks like at different rates. A financial planner can help you weigh buying against your other goals. If you'd like help deciding whether now is the right time for you, let's walk through your situation together.

About the author

Weldon Hobbs is a Colorado Springs REALTOR® and co-founder of Team Hobbs Realty. He is a member of The Platinum Group, REALTORS®, Colorado Springs' #1 independent brokerage, which pairs deep local expertise with premium marketing exposure. A U.S. Air Force Academy graduate and retired Air Force veteran, he and his family made more than 10 military moves. Since 2006, he and his wife, Kristen, have bought and sold their own homes, managed a portfolio of rental properties, and guided others through their own real estate decisions. He has also helped both family members and clients downsize, where the decisions are often complex and the process can feel overwhelming. Drawing on his background as a PMP® (Project Management Professional), he helps people break those decisions into clear, manageable steps.

Since beginning his real estate career, he has ranked in the top 7% by sales volume among the more than 4,000 members of the Pikes Peak Association of REALTORS®. He works with military families, seniors and downsizing clients, luxury and premium home sellers, and people relocating to Colorado Springs. He developed the Life → Wealth → Real Estate™ method, hosts the national YouTube channel Life & Real Estate Without Regret, and holds an MBA along with the SRES® (Seniors Real Estate Specialist®), MRP (Military Relocation Professional), and Certified Financial Coach credentials. More about Weldon

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