Is Now a Good Time to Buy
in Colorado Springs?

So, Is Now a Good Time to Buy in Colorado Springs?

It depends on your situation more than it depends on the market. But if you’re asking whether Colorado Springs is a reasonable place to buy in 2026 — yes, it is. Not because it’s cheap (it’s not), but because the fundamentals that make a market healthy are intact here in a way they aren’t in a lot of other cities.

Let me show you why.

What Does the Colorado Springs Housing Market Look Like Right Now?

Prices

The median home price in Colorado Springs is currently around $480,000–$499,000 as of mid-2026. Prices have softened slightly from their 2022–2023 peak — down roughly 2% year-over-year — as inventory has expanded and the market has shifted toward balance. We are not in a crash. We are in a healthy recalibration that actually favors prepared buyers.

In practical terms: prices are not crashing, they are not skyrocketing, and they are not going back to 2019 levels. If you’re waiting for a significant dip, the data does not support that happening in Colorado Springs.

Inventory

Inventory has improved from the historically low levels of 2021–2022 but is still below the 6-month supply that defines a “balanced” market. Colorado Springs is currently sitting at roughly 3–4 months of supply, giving buyers more options than they’ve had in several years. Buyers have more choices and more negotiating leverage than at any point since 2020. Well-priced homes in good condition typically sell within 35–60 days, with faster movement in areas like Fountain and Security-Widefield.

Interest Rates

This is where most buyers get stuck. Rates are higher than they were in 2020–2021, and that’s a real cost. A 6.7% conventional rate on a $400,000 mortgage costs roughly $420/month more than a 3% rate on the same loan — and that gap narrows further with a VA loan at today’s rates near 6.5%. That math is uncomfortable.

But here’s the counterpoint most people miss: you refinance the rate, you can’t refinance the purchase price. VA loan rates remain competitive relative to conventional financing, and buyers today have the option to refinance if rates decline in the future. Buyers who wait risk competing in a more crowded market at higher prices.

Rates are a cost you can eventually reduce. A higher purchase price in a competitive market is permanent.

Why Does Colorado Springs Hold Its Value Better Than Other Cities?

Not every market is equal. Some cities have weak fundamentals propped up by speculation. Colorado Springs has genuine demand drivers that make it more resilient than most:

• Military presence — Fort Carson, Peterson SFB, Schriever SFB, USAFA, and NORAD collectively employ tens of thousands of people with stable government salaries. This creates a floor under demand that doesn’t exist in civilian-only markets.
• Defense contractor growth — the Colorado Springs defense and aerospace sector continues to expand, bringing high-earning DoD civilians and contractors who need housing.
• Population growth — Colorado Springs has been one of the faster-growing mid-size cities in the country for a decade. People are moving here, not leaving.
• Limited land — mountains to the west, military installations throughout, and city planning constraints mean supply cannot expand freely. That structurally supports prices.
• Quality of life — 300+ days of sunshine, access to hiking and outdoor recreation, and proximity to Denver without Denver prices. People who move here tend to stay.

When Does Waiting to Buy Actually Make Sense?

I’m not going to tell you everyone should buy right now. There are real situations where waiting is the right call:

Your Credit Needs Work

If your credit score is below 640, spend 6–12 months improving it before buying. The difference between a 640 and a 720 score on a $400,000 mortgage can be 0.5–0.75% in rate — that’s $130–$200/month. Worth fixing first.

You’re Not Planning to Stay 3+ Years

Buying costs money upfront — closing costs, moving costs, the time to find the right home. If you’re planning to leave Colorado Springs in under 3 years, the math often doesn’t work in your favor. Renting short-term is a legitimate strategy.

Your Down Payment Isn’t Ready

If you’re planning to put down 10–20% and you only have half of that, give it another year. Don’t stretch yourself thin on day one. (Note: if you qualify for a VA loan or FHA, this changes entirely — you may be ready sooner than you think.)

When Does Buying Now Make Sense?

• You’re renting and your rent is $1,800+/month — depending on your financing, taxes, and insurance, monthly ownership costs may be comparable to renting
• You have stable income and plan to stay 3+ years
• You qualify for a VA or FHA loan and can get in with minimal cash down
• You’re tired of your rent going up every year with nothing to show for it
• You found a neighborhood you love and a home that fits — trying to perfectly time the market is a losing game

What Would I Tell My Own Family About Buying in Colorado Springs Right Now?

If my sibling called me today and said “should I buy in Colorado Springs?” — here’s what I’d actually say:

If you have stable income, reasonable credit, and you’re planning to be here for at least 3 years — yes. Get pre-approved this week. Not because the market is perfect (it never is), but because every month you rent is another month you’re not building equity in a home you own, while Colorado Springs keeps growing around you.

The buyers I see regret in this market aren’t the ones who bought at 7%. They’re the ones who waited for 5% rates that didn’t come — and then bought at 6.5% in a market with $40,000 higher prices.