Colorado Association of REALTORS | Residential Housing
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Residential Housing

Home Sales Drop Across Colorado as Mortgage Rates Continue to Stymie the Market

https://www.coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Despite inventory beginning to reach healthier levels in select metro and mountain areas of the state, other markets are seeing reductions in inventory of up to -63% in some neighborhoods due to the lack of new listings, proving yet again that all real estate is local, according to the latest Market Trends Housing Report from the Colorado...

With slowing activity across the state, housing prices buoyed by luxury market sales

https://www.coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Despite small increases in the overall inventory supply, higher mortgage interest rates continue to broaden the traditional seasonal slowdown in housing markets across the seven-county Denver metro area and in markets statewide. As a result, buyers willing to come off the sidelines have gained a little advantage and sellers, willing to sacrifice their 3.5% and lower interest...

Property Tax Assessments Leave Homeowners Shocked

Many Coloradans feel pain from a sharp rise in property tax assessments. Homeowners are freaking out!” said CAR Spokesperson Kelly Moye. “Our phones have been ringing off the hook.” The assessed value is taking the market value from January 2021 through June 2022. “They think that what the assessment says is not what it is worth today, and that is accurate,” said Moye....

Building Permits Slowing in Denver Faster Than Most Cities, but Picking up in Colorado Springs and Greeley

Denver metro construction is slowing from its highs in 2021, according to a new report by real estate brokerage Point2Homes. The brokerage analyzed the number of home building permits issued in 2021 and 2020 in metro areas and states. The Denver metro area is seeing some of the steepest year-over-year declines in permitting in the nation. In contrast, the report also shares...

Are We Ready to Get Back on Track in 2023?

In the Pikes Peak region, home sales fell in March on a year-over-year basis, continuing a downward trend that began in the second half of last year. And yet, sales and prices in March were up from February and at their highest levels in five months. Also, the pace of home construction —measured by permit activity — jumped in March...

Colorado Among 5 Most Expensive States for First Time Buyers

Colorado ranks fourth in the nation for states with the highest average down payment for first-time buyers, according to a new report from Moneywise. Moneywise ranked all 50 states based on median home price on Zillow and an average down payment of 13%, according to the National Association of REALTORS®. "Affordability is certainly an issue for first-time buyers, there's no question about that,"...

Report: Black-White Homeownership Gap is Biggest in a Decade

While the U.S. homeownership rate has continually increased during the last decade – to 65.5% in 2021 (from 64.7% in 2011) – the Black homeownership rate has not kept pace with increases of other racial groups. Also, people of color endure significant buying challenges throughout and even after their home purchase, according to a report released today by the National...

Notice: Showing Scam in Colorado

CAR has become aware of several instances in multiple locations across the state where scammers are reaching out to listing brokers to gain access to listed properties. In the most common scenario, the scammer will attempt to schedule a showing directly with the listing broker while impersonating an active, licensed broker working with a buyer. They will text or call the listing...

Metro Home Prices Drop After Two Years of Growth

After two years of unprecedented growth, the median sales price of a single-family home stayed the same in Colorado but dropped in Metro Denver, though barely. In January 2023, the median sale price was $569,804, down 1.4% from a year ago. Some parts of the state saw an increase in January. In January, the median price of a single-family home in...