Overall, CAR’s October 2022 Market Trends report shows more homes on the market—along with a longer amount of time on the market. There were 5,670 homes sold across the state, which is down 17% from September 2022. The median sale prices have decreased by 2% since September, and are listed at $550,000 “Despite higher home mortgage rates, home buyers now have...
CAR’s Market Trends Research reported that in Colorado Springs, the median price of homes sold in October increased by 4.3% to $465,000 since last year at the same time. Compare that number to the number of home sales, which decreased by 33%, from October 2021. Colorado Springs REALTOR® and PPAR President Anne Kidd has one option for sellers: "You can't change...
The Common Sense Institute released its report on “Adapting Colorado’s Water Systems for a 21st Century Economy and Water Supply.” “Water has been and remains an important issue that will affect housing development,” said CAR’s VP of Public Policy Liz Peetz, who also serves on the Board of Directors for the Common Sense Institute. “We need more than one approach to...
A recent Home Affordability report from Common Sense Institute showed that the affordability of purchasing a home in Colorado is at its lowest point since 1989. “Due in large part to the cost of housing, Colorado is an increasingly expensive place to live,” said Dr. Steven Byers, CSI Senior Economist. “With increased prices and rising interest rates, the affordability of purchasing...
The number of homeowners who challenged their property tax assessments in 2022 was cut in half when compared to those in who challenged their assessments in 2017, according to a recent investigation. Some assessors in metro area counties believe the data from Zillow and Redfin are helping to show homeowners the rise in home values, resulting in the acceptance of...
Today, a great public servant will lay in state in Colorado. Representative Hugh McKean was a hard worker who always brought common sense and logic to a building and conversations that can be very challenging at times. Foremost in his mind were his constituents and the people of Colorado. As a minority leader of the Republican House caucus, he faced internal adversity...
Congratulations to CAR members who have been selected to serve on NAR Committees and Board for 2022/2023. Please see below a list of Colorado REALTORS® and association staff listed in alphabetical order by last name. Milford D Adams: Fair Housing Policy Committee Tyrone Adams: AEC Recommendations and Recognition Advisory Board Brian E Anzur: Board of Directors Large Association Representative, Insurance Committee Windy Bailey: Fair...
Sellers, still looking to cash in, face a more patient buyer pool https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Rising interest rates and inflation are helping to magnify what is typically a fall season slowdown, according to the October 2022 Market Trends Housing Report from the Colorado Association of REALTORS®. New listings for metro-Denver single-family homes fell just over 25% from September to October and are...
Although home loan interest rates have increased, the real estate market allows prospective home buyers and sellers to take more time with housing choices. The interest point hikes are significant, Moye said. A couple who could afford a $700,000 house could now only afford $580,000. There have been a number of rate increases from May 2022 to September 2022 totaling...
September Market Trends statewide showed that sales for single-family homes decreased by 24.89% in September compared to September 2021. The number of listings that sold last month decreased by 24.69% year over year. “The best news is that we are seeing the market start to balance in all price ranges,” according to CAR Spokesperson Sunny Banka who works in the...