Colorado REALTORS® noticed a new turn in CAR’s Market Trends: “I think we hit a peak in late March or early April,” said Aurora REALTOR® and CAR Spokesperson Sunny Banka, who is getting about 25 emails a day about home price reductions. “What I’m paying attention to is how drastically the average price has changed,” said Denver REALTOR® and CAR...
The Colorado Affordability Index, made available by CAR, showed a record low of 52 points out of 100. The index compares the median wage for workers to the median home price. A buyer with a median wage would need to supplement their income by about 48% to afford a home. “Affordability is far beyond what the local population can support,”...
https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Buyer trepidation fueled by rising interest rates and inflation fears continued to contribute to an improving bottom line for housing inventory and helped keep median pricing relatively flat across the seven-county Denver-metro area and in markets statewide, according to the May 2022 Market Trends Housing Report from the Colorado Association of REALTORS®. New listings for single-family homes and...
According to the recent NAR report on the homeownership gap, only 43% of Black Americans can afford to buy a typical home, compared with 63% of white Americans and 54% of Hispanics. In Colorado, about 48% of white residents can afford to buy a typical home while 30% of Black and 32% of Latino people could afford homes here. CAR Market...
There are fewer than three veterans experiencing homelessness on any given night in Fremont County, thanks in part to a designation they received from Built for Zero, Community Solutions. The designation helped homeless organizations in the county expand their services. Some of the risk factors for homelessness are scarce and expensive housing. The median sales price for a home in...
Some property owners are raising rents 20-50 percent in the Denver Metro Area. The number of renters has increased, too. “It’s incredibly competitive," said CAR Spokeswoman Kelly Moye. "It’s just like if you’re buying homes. Most renters are dealing with competing with 50 to 60 other applicants." She said she recently had 64 applicants in less than 48 hours for...
REALTORS® across the state report the tides are turning in Colorado’s hot housing market, however, the prices are not, according to CAR’s April Market Trends report. In April, the statewide average home sales were $747,226 for a single-family home and $578,237 for a townhome or condo. Summit County data showed that 81% of homes in the county were priced at over...
CAR's April Market Trends Report shows that interest rates are curbing the number of offers on homes. However, prices are staying about the same, and now the state and metro area median home prices are almost the same. Statewide, the median price is $600,000, versus $660,000 in the seven-county metro area. According to CAR Spokesperson Sunny Banka of Aurora, "We are...
Despite challenges, REALTORS® across the state share signs of hope for more balance in the near future https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Rising interest rates and seasonal growth in inventory have given some potential homebuyers a little larger window of opportunity while others have decided to take a step back from the homebuying search as their dollars just don’t go as far, according to the April...
Home prices in Aurora have risen $100,000 since March of last year, but due to interest rate increases, the market is cooling just a bit. For sellers, this means “things are starting to balance out just a little bit, so you have to be a little more realistic,” says CAR Spokesperson Sunny Banka. She says a recent listing took two weeks to sell and...