I talk with buyers every week who are sitting on the sidelines waiting for interest rates to drop. I completely understand that! With the average 30-year rate around 7.4%, nobody loves seeing a 7 in front of their rate. But here’s what I want you to know: waiting for the “perfect” rate could mean missing some of the best opportunities I’ve seen in a long time.
Here’s why I think now is a great time to take a serious look.
Sellers Are Motivated, Especially Right Now
The holidays are almost here, and sellers who still have their homes on the market really want to get them sold. Many of them have already moved, are paying two mortgages, or just want a fresh start in the new year. And the numbers show it. In metro Denver, about half of September’s sales involved a price cut. About 80% involved a price cut, seller concessions, or both. Motivated sellers are willing to negotiate, and that puts you in a strong position.
Let the Seller Help Buy Down Your Rate
This is one of my favorite strategies right now. Instead of only asking for a lower price, you can ask the seller to pay for a rate buydown. That means the seller covers the cost of lowering your interest rate, either for the first few years or for the life of the loan. It can make a real difference in your monthly payment.
Sellers are offering other concessions too, like covering closing costs or helping with repairs. In October, 65% of metro Denver home sales included seller concessions. That’s something we rarely saw when the market was hot.
Less Competition from Other Buyers
Remember when every home had multiple offers, and buyers were waiving inspections just to have a chance? That isn’t today’s market. Colorado home sales dropped about 15% in September compared to last year, and pending contracts were down almost 11%. Fewer buyers means you have room to breathe. You can take your time, make an offer that makes sense for you, and keep the protections that matter, like your inspection.
Plenty of Homes to Choose From
There are close to 35,000 homes for sale across Colorado right now. Metro Denver has about four months of supply for single-family homes and more than six months for condos and townhomes. That means more choices and more negotiating power. Honestly, I’m seeing some fantastic deals out there, the kind that won’t last once the market picks back up.
Why Waiting Could Cost You More
Here’s the part I think a lot of buyers miss. Once people get comfortable with rates in the 7s (and they will!), they’re going to come back to the market. When that happens, competition returns, multiple offers return, and prices go up.
Rates can change. If they drop later, you may be able to refinance. But you can’t go back and renegotiate the price you paid or the concessions you got. Buying now lets you lock in today’s deal and today’s leverage.
Let’s Talk About Your Options
Every buyer’s situation is different, and I’d love to help you figure out whether now is the right time for you. Whether you’re just curious or ready to start looking, reach out, and let’s chat about what’s possible in today’s Colorado market.
Christine Miller - Compass Colorado - 303-520-6952
Market data: Colorado Association of REALTORS September 2026 report, Denver Metro Association of REALTORS October 2026 report, and the Freddie Mac average 30-year fixed rate as of October 8, 2026