Cortez REALTOR® and 2023 CAR Chair-Elect Jason Witt (who will serve as CAR Chair in 2024) noted some interesting facts about his community and the role of REALTORS® in their own communities, as well as his role as an incoming leader for the Association. Witt says REALTORS® can play an important role in building health and sustainable communities, and he hopes...
Many factors are at play in what CAR spokesperson Chris Hardy says is a boom-start-boom market. Consumer’s competing offers in March and April were followed by a housing market break and family vacations in June. CAR’s Market Trends report for June shows a different story than what REALTORS® are seeing in the field. In 2021, there was only two weeks’...
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...
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...
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...
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...
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...
A recent community meeting about a proposed apartment building in Longmont brought about a pain point between the balance of having enough housing in the growing city and creating more diverse types of housing. More people in Longmont own their own homes rather than rent, however, many new apartments are being built. While rent payments can cost up to $1,800...
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,”...
We would like to thank all the candidates who raised their hand to be a candidate for 2022-2023 CAR leadership positions. For those of you who were not elected, you are still a valued leader and member of the association. We strongly encourage and hope you stay involved in CAR. The following are the results for the 2022-2023 CAR Leadership Elections: Chair: Natalie...