PPAR called June "balanced" and "healthy." Fine. But read past the quote.

Median price for El Paso County single-family and patio homes landed at $499,999 in June, down about $10,000 from a year ago. Days on market climbed from 39 to 42. Inventory pushed toward 3,000 listings. And PPAR's own board president told sellers straight up to lower the price if they want to compete.

That's not a market leveling out. That's a market where sellers are losing the upper hand, one listing at a time.

Here's what that means for your VA buyers specifically. When an appraiser is trending toward a value below contract price, VA's Tidewater process gives the lender a two-day window to submit additional comps before the appraisal is finalized. What comes out the other end is the Notice of Value, VA's official number, and that's what triggers the buyer's contractual out if it still lands under contract price. Most agents treat the whole process as a hurdle to manage around. In a market where the board president is telling sellers to cut price anyway, a low NOV is leverage. It gets the buyer to the number the seller was probably going to land on regardless, without burning goodwill mid-negotiation.

The other piece worth saying out loud: zero down and no PMI mean your VA buyers don't need to wait for rates to drop before they can act. Conventional buyers sitting on the sidelines for relief are watching this same inventory pile up. Your VA clients don't have to.

One more thing, buried at the bottom of the article: PPAR flagged that its own May figures didn't match what it reported at the time, and it's still sorting out the discrepancy. Treat any single month's headline number, including this one, as a snapshot. Not a verdict.

Source: KOAA News5, July 9, 2026, citing Pikes Peak Association of REALTORS data.

A bill in the Senate could double what your VA clients pay to assume a loan.

H.R. 6047 passed the House in May and has been sitting in the Senate Veterans' Affairs Committee since June 2. It pairs new benefits for severely disabled veterans and survivors with fee hikes on VA loans to pay for it. The IRRRL fee would jump from 0.5% to 1.42%. More importantly for agents, the loan assumption fee would double from 0.5% to 1.0%.

Nothing's changed yet. It's still a bill, not a rule. But if you've got a client eyeing a home with an assumable VA loan at a rate well below today's market, the math on that deal gets less favorable if this passes. Worth flagging now, not after.

Major veterans service organizations have already pushed back on funding one group of veterans' benefits by raising fees on another. I'll keep you posted on where this lands.

Trends: VA rate up from last week (6.65% → 6.70%), and now running above conventional, a reversal from the usual pattern.

Rates reflect national averages as of July 15, 2026 per Bankrate's weekly lender survey. Rates change daily and are not a commitment to lend. Your clients' actual rate will depend on credit profile, loan amount, property type, and individual file characteristics. Contact Gene for current pricing.

Gene Richter, NMLS #2806488 · PBT Bancorp, NMLS #257781

🏠 Equal Housing Opportunity

I almost skipped the price report this month. Another "market's fine" story, nothing new. Then I got to the part where the board president told sellers to cut their price and realized that's the actual story, just buried under a quote about balance.

If you've got a VA client who's been priced out or hesitant, this is the month to call them back. And if you've got a listing sitting on an old VA loan at a rate nobody's seeing anymore, let's talk about what that assumption could be worth before Congress decides to make it more expensive. To review the full July issue, visit this link.

— Gene Richter, Licensed Mortgage Loan Originator NMLS #2806488 · PBT Bancorp NMLS #257781 · Colorado Springs, CO (719) 722-4278 · VASpotlight.com

🏠 Equal Housing Opportunity | This newsletter is intended for real estate professionals and does not constitute a consumer credit advertisement. Rates shown are national averages for informational purposes only and are not a commitment to lend. Not all borrowers will qualify. This content does not constitute tax, legal, or financial advice — consult a qualified professional for guidance specific to your situation. Gene Richter is a licensed Mortgage Loan Originator (NMLS #2806488) operating through PBT Bancorp (NMLS #257781), licensed to originate mortgage loans in Colorado.