The COVID-19 pandemic may be hitting the economy hard, bringing the highest national unemployment rate since the Great Depression, but median home prices defied the odds and jumped 3.1% year over year last week, according to realtor.com® housing data for the week ending May 23. That’s double the 1.5% annual increase for the previous week. The National Association of REALTORS® recently...
Why do people decide to stay or leave a community? A new joint survey from the Urban Institute and the Knight Foundation seeks to find the true motivations behind Americans’ choices for places to live. The survey of more than 11,000 consumers was conducted before the COVID-19 pandemic. Here are a few highlights from their findings: Quality of life matters in people’s decisions...
“In spite of the inability to show homes and the stay-at-home order, our market remains strong,” Kelly Moye, a Boulder-area REALTOR®, told CBS 4. “We’re still a little bit early right now … everything looks just peachy as if nothing happened.” “I think a lot of folks were maybe expecting a larger shift than occurred when, in fact, it wasn’t...
Marty Schechter for CAR 303-882-4585 cell marty@schechterpr.com ENGLEWOOD, CO – May 12, 2020 – While the real estate universe paused with bated breath in April, the results of a complicated, pandemic-driven start to the typical buying and selling season weren’t nearly as bad as many in the industry feared, according to the latest monthly market data from the...
Denver, CO – April 27, 2020 – The Colorado Department of Local Affairs’ (DOLA) Division of Housing (DOH) awarded $9.5M through the Colorado State Housing Board (SHB) for affordable housing and 80 new recovery-oriented housing vouchers with $144,000 of support services in March and April, and received $3M to provide COVID-19 housing relief across Colorado. Governor Polis signed Executive Order...
March numbers reflect a pause to the momentum of a healthy first Marty Schechter for CAR 303-882-4585 cell marty@schechterpr.com ENGLEWOOD, CO. – April 10, 2020 – From a cold and snowy Colorado February to the COVID-19 pandemic in March that has impacted virtually every person and every community, the state’s residential real estate market found a way to persevere with...
On March 20, 2020, Colorado Governor Jared Polis issued Executive Order D 2020 012, which, among other things, temporarily limits evictions, foreclosures, and public utility disconnections, providing support to unemployed Coloradans affected by the COVID-19 pandemic. The COVID-19 pandemic has impacted Coloradans in a variety of ways, including some Coloradan's ability to meet the financial obligations related to housing. In response, Governor Polis...
Denver-area REALTOR® Lane Lyon spoke with 9 News about metro Denver's hot housing market and how millennials can get a piece of it. For those looking to get into their first home, Lyon offers this advice: "Get pre-qualified. Talk with a lender. Know what your options are. With interest rates the way they are, you may be able to afford...
Winter weather doesn’t slow home sales as buyers gobbled up record low inventory ENGLEWOOD, CO. – March 11, 2020 – A growing number of homes coming onto the market in the first few months of the year, coupled with a cold and snowy February, wasn’t enough to offset pent-up demand from buyers ready to gobble up available single-family homes and condo/townhomes...
Many home buyers are having a tough time finding a home they want, and the problem will likely get worse. A new study by Freddie Mac puts the housing shortage in a dire perspective: a 3.3 million unit deficit nationwide. Years of underbuilding has created an inventory shortfall, which is most pronounced in states with strong economies that have been luring more...