Colorado Association of REALTORS | Construction
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Construction

Lakewood City Council Approves Residential Growth Restriction Plan

In July 2019, Lakewood voters passed Question 200, which restricts residential growth to one percent per year. That equates to about 700 new residences in 2020. Now, the Lakewood City Council has finally approved a plan on how the city will enact the voter-approved housing cap. The plan passed by councilors on Jan. 28 takes into account the hundreds of...

Garfield County’s Housing Supply Continues to Shrink

“While our market continues to struggle with low inventory, which of course results in higher prices, we are starting to see some new construction which brings hope to first-time homebuyers as well as move-up buyers,” said Erin Bassett, president of Glenwood Springs Association of REALTORS. “Spring should bring new resale inventory as well.” “We just, honestly, have no inventory,”...

2020 Forecast: Colorado Is Getting Older and Narrowing the Housing Gap, But Really Needs Middle-Wage Jobs

Tamara Chuang, who covers business and economic issues for the Colorado Sun, recently wrote an article highlighting Colorado's economic and population growth over the past decade. Colorado's population is expected to hit 5,842,076 people in 2020, an increase of 1.5 million people over the past 20 years. Elizabeth Garner, Colorado's state demographer, says that while the state's population has grown...

September Housing Market Trends: Home Sales Decline as Colorado Housing Markets Work to Find Their Sweet Spot Amid Seasonal Challenges

Regional and Statewide Statistics Contact:  Marty Schechter for CAR 303-882-4585 cell marty@schechterpr.com ENGLEWOOD, CO. – Oct. 10, 2019 – Single-family home sales across the state fell more than 14 percent from August to September but remain up 9.1 percent over September 2018 in the seven-county Denver metro area and 5.3 percent statewide, according to the latest monthly market data from the Colorado Association of...

FHA Condo Rule Change Could Help More Buyers Break into Boulder Market

On Oct. 15, new rules will go into effect that will reduce regulatory barriers, making purchasing a condo in more expensive markets a bit easier. For example, the new rule will allow certain individual condominium units to be eligible for FHA mortgage insurance even if the condominium project is not FHA approved. (The condo unit needs to be in a...

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Lakewood Voters Approve Measure Restricting Development

Lakewood residents voted for a measure aimed at limiting development Tuesday. Ballot question 200 was approved by approximately 53 percent of voters, with the remainder voting against it. The ordinance seeks to limit development in the city by capping new housing projects at 1 percent of the city's current housing stock. "As REALTORS®, it’s our job to ensure housing remains as attainable as...

Habitat for Humanity’s Legislative Build Day

CAR was excited this year to be a sponsor of the Habitat for Humanity Legislative Build Day that sponsored building across the state on June 27, 2019. “CAR is thrilled to partner with Habitat for Humanity to build affordable housing,” says Vice President of Government Affairs, Elizabeth Peetz. “We know that 1 in 7 households spend more than half...

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Affordable Housing in San Miguel County Gets State Boost

A lack of affordable housing doesn’t just bedevil Telluride, it challenges communities across the state, so much so that last October a bipartisan group of state senators and representatives sat down with diverse stakeholders ranging from the Colorado Association of REALTORS® to Habitat for Humanity to Ski Country USA, plus local government representatives, to examine the issue.   Town of Telluride Program...

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How Does New Construction Affect Housing Prices?

Denver’s 2019 elections have become a referendum on development, with Mayor Michael Hancock defending his handling of the city’s rapid urban growth. The debate has produced some major questions about development, housing and money. Here are some answers.   Are housing prices slowing down?   Yes. The pace of increases for rent and sale prices has slowed down lately. The median single-family home in...

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Metro-Area Commercial Sales Prices Plateau for First Time Since 2011

By Greg Johnson, Calibrate Real Estate   After six years of steady growth, in 2018 the Central Denver apartment market flattened out. See report by clicking here.  Nearly 1,000 units were sold in 34 transactions, and the average price per unit was $182,938, a slight decrease from 2017’s average of $185,316.  We calculate the average price per unit annually from Central Denver...