While more than 65% of Americans owned a home in 2021—the highest amount ever—the black community’s rate of homeownership was only 43% nationally, down 1% from last year. This and other data were covered in NAR’s latest Snapshot of Race and Home Buying in America Report. “As the gap in homeownership rates for Black and White Americans has widened, it is important to understand the...
Several Denver Metro-area real estate experts in reporting that $1 million is no longer the price point for a luxury home. To live in luxury in Denver, buyers should plan to pay between $1.5 to $2 million or more, and likely on the higher end of that range. “It’s less and less likely that buyers can get the luxury home they pictured by paying...
“There are plenty of thought-provoking choices to make in life--more so when you take a glance at predictions and numbers that can relate back to your or your client’s livelihoods,” said Estes Park REALTOR® and CAR Spokesperson Abbey Pontius. In Estes Park, the average sales price of a single-family home is $583,367, and townhomes and condos are at $393,000. “This amount of money will have...
Many ideas await the recommendations from legislators on how to spend $400 million of COVID-relief money on how to make housing more accessible to more people. “We’re all saying it: This is a once-in-a-lifetime chance to make investments in housing that we would never as a state be able to make in our own,” said Cathy Alderman, chief communications and policy officer for the Colorado...
New Coloradoans and the state’s stay-at-home orders during the pandemic have combined to form an unprecedented amount of growth in home values and scarcity in 2021, according to CAR’s 2021 Year-End Market Trends Report. The overall median single-family home price across Colorado went up 32% between 2019 and 2021. “In 2019, we were starting to see a plateau in the real estate market with appreciation...
For homeowners affected by the Marshall fire, the time between the disaster and receiving much-needed federal and insurance dollars is uncertain. “it’s the hardest, darkest period that these victims have to walk through,” said CAR Foundation Executive Director Amy McDermott. “Our hope is that this funding can bridge that gap.” The Foundation has received over $2 million to give to homeowners during this time, and...
Recent home listings in the Marshall Fire Burn areas are still selling over the asking price in a short time. There were 17 homes under contract that sold within two days of being on the market. The language in the listings reads differently than it did two months ago. “Instead of the remarks saying, ‘Great house, open space, and views,...
The Colorado Association of REALTORS® announced their participation in the Coloradans for Energy Access, which is a coalition to support the use of affordable, cleaner-burning natural gas in homes and businesses. Colorado is considering prohibiting consumers from using natural gas use and opting for electricity, which is considered environmentally friendly. CAR CEO Tyrone Adams joins other business leaders in advocating...
Despite the historic jump in prices seen in 2021, the dizzying pace at which homes are selling for over the asking price with multiple offers in a short time frame could lessen if the interest rates go up. “An uptick is probably good for the market to quell rampant appreciation," said CAR spokesperson Chris Hardy. "But for some folks it...
As we all know, the public’s increased time at home led people to buy homes or more square footage, according to a study by economists at the Federal Reserve Bank of Kansas City. Even after the pandemic, people are spending 5% more time at home, “which correlates with a nearly 4% increase in home prices found in most of the...