Legislative Advocacy this Week at the State Capitol We are in the second month of the legislative session and more bills are expected to be introduced. The Colorado Association of REALTORS® is acting on more bills that impact the real estate industry from rent control, unfair service agreements, to landlord-tenant legislation. CAR® continues to be at the forefront of political advocacy to ensure...
A modest drop in interest rates helped to end a string of 12 straight monthly declines in builder confidence levels, although sentiment remains in bearish territory as builders continue to grapple with elevated construction costs, building material supply chain disruptions and challenging affordability conditions, according to a recent report from the National Association of Home Builders. Builder confidence in the market...
NAR has committed to educate members and consumers about rental assistance but urges policy around the root cause of affordability issues. NAR offered the White House a commitment to educate its more than 1.5 million members on renter assistance and protections as part of the Biden administration’s new plan to alleviate rental affordability pressures across the country. The plan’s blueprint...
The interest rate for a 30-year loan hover near the best levels since September, nearly a whole percentage point down from a 7.08% peak just two months ago. Affordability woes are still spooking buyers, but another decrease in mortgage rates could bring them back to the market. The interest rate for the 30-year mortgage averaged 6.13% last week, Freddie Mac reports,...
Nationally, pending home sales increased for the first time in six months, and new home sales and mortgage applications are rising. New housing data offers hope that the market slowdown may be short lived. Nationally, pending home sales rose 2.5% in December, ending a six-month slide, the National Association of REALTORS® reported last week. New-home sales also rose 2.3% last month,...
The decision ends a Department of Justice inquiry into the association’s Clear Cooperation Policy and participation rule. On Wednesday, a federal judge granted the National Association of REALTORS®’ petition to end a Department of Justice inquiry into the association’s Clear Cooperation Policy and participation rule. NAR filed the petition in September 2021 after the Department of Justice announced it was backing out of...
Legislative Advocacy this Week at the State Capitol The third official week of the session has wrapped up with more bills moving through the legislative process. The Colorado Association of REALTORS® is tracking around 31 bills relevant to the real estate and business community; we anticipate more housing-related bills to be introduced in the coming weeks. As always, Colorado Association of REALTORS®...
Legislative Advocacy this Week at the State Capitol The 2023 legislative session kicked off on January 9th and there are already 120 introduced bills. It is going to be a very big housing legislative session and our Legislative Policy Committee members will be very busy reviewing lots of legislation this year. In fact, in the Governor’s State of the State Address...
The Governor’s theme “Colorado for All” includes a focus on affordable housing, an issue he says he’s heard throughout the state. At his swearing-in ceremony on Tuesday, January 10th, Polis said the increase in home prices is part of the reason he’ll be calling for changes this year. “We really want to lean into removing some of the barriers that exist to...
A long-term, frenzied housing market shifts in second half of 2022 https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – The robust, fast-paced real estate market that has dominated Colorado for the past several years and into the first half of 2022 changed significantly in the second half of the year and was punctuated by a December freeze that saw new listings fall to all-time lows statewide,...