Since the real estate market has cooled just a bit in June, as reported by CAR’s Market Trends, REALTORS® are left to prognosticate about the future of the market. “The analogy that really conveys to us what’s happening is just that we’ve hit the summit,” said CAR Spokesperson Matthew Leprino. “We’ve climbed to the top of the mountain and we’re...
Denver Mayor Michael Hancock looked back on the challenges during his tenure in office, including the lack of attainable housing. CAR’s Market Trends using April data showed that home values grew 31% over the past two years, and that housing affordability reached a record low. When Mayor Hancock began office in 2011, he explained the mortgage crisis caused the city...
The number of single-family homes and condo townhomes for sale increased 44% from May to June 2022, but median home sale prices are up more than 10% both locally and statewide. REALTORS® around the Denver-metro area provide some reasons why and explain how buyers are adapting to a new real estate market. “As fears of inflationary pressures reach households through the...
The CAR Foundation announced its grant recipients for the Spring 2022 Grant cycle. These nonprofits align with the CAR Foundation’s mission to support safe and attainable housing and advance homeownership in Colorado. These organizations will receive money from the $65,000 grant pool. Ray of Hope Cancer Foundation Home Builders Foundation St. Francis Center Mile High United Way Habitat for Humanity Gunnison Valley Eagle County Housing and Development...
Statewide, home prices in June 2021 decreased by 2% from last year at this time, according to CAR’s June Market Trends Report. But the better news is that the number of homes for sale is increasing. “Buyers need to know that for the first time in a long time they have an opportunity to think about a home purchase,” said...
https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Despite a massive influx of new inventory hitting the Denver metro and statewide housing markets over the past month, fears of inflation, rising interest rates and a host of other key variables are changing conditions for both buyers and sellers alike, according to the June 2022 Market Trends Housing Report from the Colorado Association of REALTORS®. The inventory...
To ease the minds of prospective homebuyers hearing the news of a three-quarter interest Rate hike, CAR Spokesperson Matthew Leprino had an explanation. He said some of the increase was already figured into mortgage rates, which had gone above 6% before the Fed made the announcement and had decreased a small amount the next day. “…as these changes occur, the...
Beginning July 1, radon testing professionals will need to be licensed by the Colorado Department of Regulatory Agencies. This recent law came from HB 21-1195 and will have two different licensing programs: one for measurement and another for mitigation. DORA Spokespeople state that the increase in radon levels in Colorado homes created a market for “unqualified individuals who are representing...
Colorado Project Wildfire (CPW), founded by CAR, is proud to announce that Evergreen REALTOR® John Putt and the Rotary Wildfire Ready team are securing funding and putting those dollars to work in ways that are truly improving the safety of their high wildfire risk community. An infrared camera was installed to observe and send warnings at the first signs of...
Sitzer/Burnett Class Action Lawsuit Earlier this month, an appeals court rejected NAR’s class certification challenge in the Sitzer/Burnett Case, the lawsuit falsely alleging that sellers are damaged when their listing broker offers to compensate the buyer’s broker. The ruling implies that the case will move forward as a multibillion-dollar class-action lawsuit and is headed for trial in February 2023. The case...