As the year comes to a close and the election is behind us, the trend in home sales and median selling price in Pueblo County continues to drop.

At the end of last year, Pueblo County had a median selling price of $ 315,000 so the overall market loss in the median selling price for the year dropped, 8.2%. High interest rates continue to keep pressure on prices as fewer homes are selling on a monthly basis.

Since the beginning of the year the, the Federal Reserve has lowered interest rates by a full percent point from 5.5% to 4.5% as of December 18th, 2024.

The Federal Reserve directly does not control mortgage interest rates, but mortgage rates are largely influenced by the yields on the 10-year Treasury notes. Treasury notes can be considered a type of government bond that investors buy and in return receive interest over a period of time. In short, investors factor in many variables anticipating for inflation, economic growth and monetary policy. When the yields increase, mortgage rates usually follow.