From June to July 22, the number of single-family homes is up by 10% and for condos, that number is 11%. “It is like we had a really hot summer day and a few days later, a blizzard,” said CAR Spokesperson and Colorado Springs REALTOR® Patrick Muldoon. “One weekend we were watching buyers toss everything they could at a house...
As of July 2022, the metro area has a 1.3 -month supply of single-family homes for sale, which has increased from the .3 months of supply available in February. CAR Spokesperson Matthew Leprino says, “Things have leveled out. Things have calmed down. The best analogy I can give you is that the market just took a huge, deep breath. It’s...
CAR’s Market Trends reported the median home price for a single-family home was $635,000 in July 2022. Since financial experts advise putting down a 20% down payment on a home, this creates a “boomerang effect,” which is when younger adults move back in with their parents to save for that payment.. According to the Pew Research Center, in 2021, 25%...
https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – With active listings and inventory rising across the seven-county metro area and state, slowing sales and fewer new listings have kept the full swing of the real estate pendulum in check, according to the July 2022 Market Trends Housing Report from the Colorado Association of REALTORS®. The combination of factors, including rising interest rates, is giving potential...
Since the real estate market has cooled just a bit in June, as reported by CAR’s Market Trends, REALTORS® are left to prognosticate about the future of the market. “The analogy that really conveys to us what’s happening is just that we’ve hit the summit,” said CAR Spokesperson Matthew Leprino. “We’ve climbed to the top of the mountain and we’re...
The number of single-family homes and condo townhomes for sale increased 44% from May to June 2022, but median home sale prices are up more than 10% both locally and statewide. REALTORS® around the Denver-metro area provide some reasons why and explain how buyers are adapting to a new real estate market. “As fears of inflationary pressures reach households through the...
Statewide, home prices in June 2021 decreased by 2% from last year at this time, according to CAR’s June Market Trends Report. But the better news is that the number of homes for sale is increasing. “Buyers need to know that for the first time in a long time they have an opportunity to think about a home purchase,” said...
https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Despite a massive influx of new inventory hitting the Denver metro and statewide housing markets over the past month, fears of inflation, rising interest rates and a host of other key variables are changing conditions for both buyers and sellers alike, according to the June 2022 Market Trends Housing Report from the Colorado Association of REALTORS®. The inventory...
To ease the minds of prospective homebuyers hearing the news of a three-quarter interest Rate hike, CAR Spokesperson Matthew Leprino had an explanation. He said some of the increase was already figured into mortgage rates, which had gone above 6% before the Fed made the announcement and had decreased a small amount the next day. “…as these changes occur, the...
According to Denver’s Housing Authority stats from 2001, median-home prices were $233,160, which is also the last time the Colorado Avalanche won the Stanley Cup. Fast forward to 2021’s hockey championship season, CAR’s May Market Trends report shows the statewide median price is $600,0000. In 2001, Nokia-brand cell phones were popular, and Apple produced its first-ever iPod. https://www.denverpost.com/2022/06/13/colorado-avalanche-stanley-cup-2001-pop-culture/ ...