Prices for single-family homes in Colorado Springs rose 17.1% from 2021, and the days listed on the market decreased by 7.7% from March last year. CAR Spokesperson Patrick Muldoon said “Low inventory and high demand were going to continue to cause the same hikes we had seen. As the snowy season came to an end and spring was nearing, there was almost nothing that could...
The 279 homes sold in Pueblo in March made for an extra $89 million in profits for sellers, and interest rate increases have not had a huge impact on sales. Sales prices were up 24% over last year and there’s not much change on the horizon, said Dave Anderson, a CAR Spokesperson. “Lumber prices are coming down only a hair, supply chain issues continue, and...
CAR spokespeople are guessing when metro area average sales prices will hit the $1M mark. Matthew Leprino of Denver used CAR’s Market Trends to make his prediction. “With only an 8.84% increase required for the average to top $1 million,” he said, “at the current monthly rate of monthly appreciation at 3.2%, we will reach that milestone as we celebrate...
CAR’s Vice President of Government Affairs Liz Peetz was part of a panel addressing Colorado’s access to housing and affordability. The program was hosted by the Denver Gazette, which posed questions to panel members who included Ted Leighty, Colorado Home Builders Association; Jonathan Cappelli, Neighborhood Development Collaborative; Peter LiFari, Maiker Housing Partners; Karen Kallenberg, Habitat for Humanity Colorado; and Liz Peetz, CAR. Many reasons for the problem...
https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – A much-needed spike in new listings from February to March did little to quell the continued insatiable appetite for housing in markets across the state, according to the March 2022 Market Trends Housing Report from the Colorado Association of REALTORS®. New single-family listings in the seven-county Denver metro area rose 47.5% percent from February to March 2022, while statewide new listings...
Despite low inventory and fierce competition among home buyers, the popular “Coming Soon” Listings are still being used as an industry-standard tool for sales and marketing. The MLS supports the early listings and accompanying signs if they are posted no longer than seven days in advance. This is in accordance with NAR’s Clear Cooperation Policy to curb “pocket” listings to...
In February, CAR’s Market Trends showed that a home in Douglas County, Colo., is selling for a median price of $706,000, while Denver’s prices are at $659,0000. Jeffco and Broomfield home prices are also higher than Denver. Adams County comes in with a lower price point at $550,000. Some speculate that low inventory in Denver and people’s ability to work...
Buyers are still determined to buy a home despite interest rate increases. “I think people realize later does not mean better,” said CAR Spokesperson Kelly Moye. “Later could mean worse. Our prices appreciated 25% last year. Those people who didn’t buy a year ago are kicking themselves today.” The Federal Reserve announced on March 17 that the interest rate would increase by a quarter percent...
The popularity of multigeneration living is in flux throughout the nation, according to two recent reports. Colorado, along with Arizona and Nevada, had the largest increase in multigenerational households, which is defined by three or more generations who live in the same home. From 2014 to 2019, that increase went up 12.34 percent across the three states, according to a study from LendingTree. The NAR’s Home...
Prospective homebuyers who keep losing out on homes because of a lack of a cash offer could have a new option. The concept is called shared appreciation, where some companies are offering to put a cash offer in for a homebuyer if they cannot, and then get paid back later. The company will typically place the cash offer for the buyer after signing the...