Colorado Association of REALTORS® sets sights on bipartisan solutions for state’s housing shortage and pathways to home ownership
Following an election that included the endorsement of 59 candidates across Colorado State Senate and State Representative races (26 Republicans and 33 Democrats) by the Colorado Association of REALTORS® (CAR), association leaders and their 26,000 members have turned their post-election focus to finding bipartisan solutions for the state’s lingering and growing housing shortage, as well as overall pathways to homeownership for residents.
“We extend our congratulations and appreciation to every candidate recently elected to serve Colorado in the upcoming 75th General Assembly in 2025,” said Jason Witt, Cortez REALTOR® and President of the Colorado Association of REALTORS®. “It is more important than ever that we now put the partisan rhetoric aside and collaborate on bipartisan solutions to address our statewide housing crisis and allow more Coloradans to achieve the American Dream of homeownership.”
The most recent statewide Pulse Poll conducted by the Colorado Health Foundation found that 90% of renters aspire to own a home. However, more than half (52%) believe they are unlikely to own one. The results and perception by such a large number of Coloradans may be due in part to Colorado facing a shortfall of at least 100,000 homes in meeting our state’s housing needs. The lack of supply amid growing demand has led to a statewide median sales price of $580,000 for a single-family home and $419,900 for a townhouse/condominium, according to the Association’s Market Trends data.
“We must do better in providing pathways to homeownership as every Coloradan should have an opportunity to own a home and secure stable housing,” added Witt. “With a significant housing deficit, our association leaders and our boots-on-the-ground members across the state are eager to work with our elected leaders on solutions that can deliver a healthy real estate market that we know is so critical to the vitality of our communities.”
Key issues and solutions highlighted by CAR include:
- Enacting policies that encourage builders and developers to create more for-sale housing units, especially at more attainable price points below the statewide median price.
- Exploring financial incentives to help would-be homebuyers get their foot in the door on homeownership.
- Exploring every option possible to ensure homeowners insurance remains available and attainable.
Of the 59 candidates, split between Republicans and Democrats, endorsed by the Colorado Association of REALTORS®, 56 had won or were winning their respective races as of this morning.
“We carefully reviewed candidates going into this election and endorsed those who share our values in helping and protecting Coloradans across homeownership issues, building strong communities, protecting private property rights, and promoting a vibrant economic future for all Coloradans,” said Grand County REALTOR® and CARPAC Chair Janene Johnson. “We’re looking forward to continuing our work with these state leaders and their stakeholders to define and implement meaningful solutions with tangible housing benefits.”
The Colorado Association of REALTORS®, representing more than 26,000 members statewide, is committed to helping and protecting Coloradans across homeownership issues, building strong communities, protecting private property rights, and promoting a vibrant economic future for all Coloradans.