DENVER — Last week, the Federal Reserve cut its interest rate by half a percentage point , the largest cut since March 2020. This rate cut is already trickling into the real estate industry — prompting more home-buyers to get off the fence and into the market.
But the promise of a lower mortgage payment isn’t the only thing that is contributing to a softening housing market in the Denver metro area.
Take Sam and Michael Gustafson for example. They are looking to buy their first home together.
Denver7, Colin Riley“Probably six, eight months we’ve been seriously talking about it, and then we just started looking within the last two months,” Sam said.
That was months searching for four walls to call their own. Sam and Michael said finding a home together is important to them.
“We’ll both have a dog in the race and just have something that’s going to be ours together that we can say, ‘Hey, we came together and did this, and that’s home,'” Michael said.