Making the trek from Columbia, South Carolina and climbing more than 5,000 feet in elevation to Denver, Colorado, the Riding with the Brand motorcoach pulled into Denver’s bustling downtown to the fanfare of more than 220 Colorado REALTORS®. REALTORS® from across the state – professionals who serve Colorado’s high country, the beautiful plateaus of our western slope, the open countryside...
Legislative Advocacy this Week at the State Capitol Business at the Capitol picked up last week with multiple REALTOR® watched bills going through committees. Colorado Association of REALTORS® testified on two bills last week; Portable Screening Reports (HB23-1099) andProhibited Agreements in Rental Leases (HB23-1095). CAR testified in opposition of HB23-1099 and testified as an amended position for HB23-1095, both bills passed through house committees but CAR will...
https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Both home buyers and sellers continue to feel the effects of the Federal Reserve’s interest rate hikes designed to help curb inflation and slow the market, according to the January 2023 Market Trends Housing Report and analysis from the Colorado Association of REALTORS® (CAR). Housing prices across the seven-county Denver-metro area and state continued to fall slightly...
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®...