"Homeownership is the foundation of the American Dream.” - Dennis Weaver

Hey Everyone,

Welcome to this week’s edition of The Ridgeline Rundown!

📉 What an Economic Slowdown Could Mean for the Housing Market
With talks of a potential economic slowdown making headlines, many are wondering how it might impact home values, interest rates, and buyer activity. While a slowdown can create uncertainty, it also presents opportunities—especially for buyers prepared to act and sellers who position their home correctly. I’ll be breaking down what you should know and how to navigate the changes with confidence.

🎥 Big News: I’m Now a TV Host for The American Dream!
I’m honored to represent Colorado Springs on The American Dream, a national TV show that shares real stories of lifestyle, real estate, and community across the country.

Are you a local business owner doing something meaningful, have a unique story, or a home you think deserves the spotlight? I’d love to feature you.

As always, I’m here to guide you with honest advice, real strategies, and a personalized approach that makes a difference. Have questions? Let’s chat and build a plan that works for you.

Mortgage Minute

Mortgage rates have stabilized this week, showing minimal movement compared to the volatility seen just weeks ago. The average 30-year fixed rate for top-tier borrowers is holding steady around 6.81%, with most quotes ranging between 6.625% and 6.875%. Rate changes have been minor and mostly favorable, with lenders holding rates flat day over day.

The Insider’s Guide to Real Estate | Tips

What an Economic Slowdown Could Mean for the Housing Market

Talk about the economy is all over the news, and the odds of a recession are rising this year. That’s leaving a lot of people wondering what it means for the value of their home – and their buying power.

Let’s take a look at some historical data to show what’s happened in the housing market during each recession, going all the way back to the 1980s. The facts may surprise you.

A Recession Doesn’t Mean Home Prices Will Fall

Many people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time the market saw such a steep drop in prices. And it hasn’t happened since, mainly because inventory is still so low overall. Even in markets where the number of homes for sale has started to rise this year, inventory is still far below the oversupply of homes that led up to the housing crash.

In fact, according to data from Cotality (formerly CoreLogic), in four of the last six recessions, home prices actually went up (see graph below)

So, don’t assume a recession will lead to a significant drop in home values. The data simply doesn’t support that idea. Instead, home prices usually follow whatever trajectory they’re already on. And right now, nationally, home prices are still rising, just at a more normal pace.

Mortgage Rates Typically Decline During Recessions

While home prices tend to stay on their current path, mortgage rates usually drop during economic slowdowns. Again, looking at data from the last six recessions, mortgage rates fell each time (see graph below):

So, a recession means rates could decline. And while that would help with your buying power, don’t expect the return of a 3% rate.

Bottom Line

The answer to the recession question is still unknown, but the odds have gone up. However, that doesn’t mean you have to worry about what it means for the housing market – or the value of your home. Historical data tells us what usually happens.

If you’re wondering how the current economy is impacting our local market, let’s connect.

Colorado Springs Social Scene

Military News and Updates

Notorious VA backlogs in processing claims have become more streamlined

More than a decade ago, the Department of Veterans Affairs faced national furor because thousands of claims for monthly disability benefits were waiting years for adjudication. Now the VA reports a claim can be processed in 135 days.

The VA reports reasonable turnaround times after bipartisan legislation passed in 2022 extending benefits to veterans who experienced serious health conditions following exposure to Agent Orange in Vietnam and the burn pits in Afghanistan and Iraq.

Feel free to reach out with any real estate questions—I’m here to help, no matter the state!

Referrals are the biggest compliment, so send anyone my way. Until next time!