Residential Housing Archives - Page 2 of 32 - Colorado Association of REALTORS

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Residential Housing

Construction worker in safety vest outdoors.

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

Posted on May 3, 2023

Construction, REALTOR® News, Residential Housing

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...

Miniature houses with wooden blocks displaying "2023."

Are We Ready to Get Back on Track in 2023?

Posted on May 2, 2023

Market Trends, Market Trends & Statistics, REALTOR® News, REALTORS® in the News, Residential Housing

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...

Businessman discussing contract with calculator.

Colorado Among 5 Most Expensive States for First Time Buyers

Posted on April 26, 2023

Market Trends & Statistics, REALTOR® News, REALTORS® in the News, Residential Housing

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,"...

Financial graphs overlaying stacked coins.

Report: Investors Bought $10B Worth of Denver-Area Homes Since 2021

Posted on April 12, 2023

REALTOR® News, Residential Housing

According to a report released by Redfin, between the first quarter of 2021 and the fourth quarter of 2022, about 15% of the number of homes sold in the Denver metro were to investors – about one in every seven homes. Through 2021 and 2022, investors bought a total of $9.5 billion in Denver area housing. Investors typically bought homes for...

Wooden blocks spelling "Housing Gap" on table.

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

Posted on March 14, 2023

NAR, REALTOR® News, Residential Housing

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...

Scam alert graphic for real estate warnings.

Notice: Showing Scam in Colorado

Posted on March 3, 2023

Consumer Awareness, REALTOR® News, REALTORS® in the News, Residential Housing

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...

Aerial view of suburban neighborhood with trees.

Metro Home Prices Drop After Two Years of Growth

Posted on March 2, 2023

Consumer Awareness, Market Trends, Market Trends & Statistics, REALTOR® News, REALTORS® in the News, Residential Housing, Stats & Trends

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...

Mortgage rates rising with a house illustration.

Mortgage Rates Rise on Signs of Strong Economic Growth

Posted on March 2, 2023

Market Trends, Market Trends & Statistics, NAR, REALTOR® News, Residential Housing, Stats & Trends

As borrowing costs increase, rate dispersion among lenders is growing. Your clients could save up to $1,200 annually by shopping around, experts say. Mortgage rates are inching up, with the 30-year fixed-rate loan increasing to a 6.5% average last week, Freddie Mac reports. Homeownership remains attainable for Americans who can afford a 20% down payment and a monthly mortgage payment of...

Key in a door lock with blurred background.

2023 Colorado Business Economic Outlook on Housing

Posted on January 4, 2023

REALTOR® News, Residential Housing

CU’s 2023 Colorado Business Economic Outlook report provides mixed forecasts about the housing market, construction, infrastructure, and the labor market. A few highlights from the forecast: Inflation The story for 2022 was inflation. The story for 2023 will be inflation. “But the high rate may have crested; we’re seeing a slowing of price growth,” said Richard Wobbekind, Associate Dean Business and Government Relations...

Smaller Real Estate Markets Seeing Fewer Changes

Posted on November 22, 2022