A Message from CAR President Jason Witt: Resilience in the Face of Change As we navigate the ever-evolving landscape of real estate, it's imperative that we, as REALTORS®, remain resilient and adaptable. Our profession is not just about transactions; it's about building communities, changing lives, and being trusted advocates for our clients. Change is a constant, and how we respond to...
Key Highlights In Colorado, the homeownership rate was 70% for White Americans in 2022, followed by 42% for Black Americans, 65% for Asian Americans and 57% for Hispanic Americans. the share of Colorado renter households that can afford to buy the typical home is 10% for White Americans, 6% for Black Americans, 15% for Asian Americans, and 6% for Hispanic Americans, further...
Dear Members,Your Colorado Association of REALTORS® (CAR) Leadership Council and Board of Directors have heard from many of you, our members, who have asked CAR to address the March 15th announcement by the National Association of REALTORS® (NAR) of an agreed settlement with the class action plaintiffs.The NAR settlement represents a very significant development for REALTORS® throughout the country. If...
Congratulations to CAR members who have been selected to serve on NAR Committees and Boards for 2023/2024. Please see below a list of Colorado REALTORS® and association staff listed in alphabetical order by last name. Milford D Adams: Board of Directors Large Association Representative, Fair Housing Policy Committee Tyrone Adams: AEC Recommendations and Recognition Advisory Board Brian E Anzur: Board of Directors Large...
A new housing report by the National Association of REALTORS® reveals middle-income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% in the last 10 years. The report, Wealth Gains by Income and Racial/Ethnic Group, speaks to the value REALTORS® bring to consumers when helping buy and sell homes that build generational wealth. While not everyone has the same opportunities for homeownership,...
Colorado Springs REALTOR® Ashlee Nath has been named as one of this year's National Association of REALTORS® 30 Under 30. The character of the 2023 class of 30 Under 30 can be summed up in two words: bold entrepreneurs. Some members of this year’s class have taken great leaps to make it in the industry. They are relationship builders, barrier breakers,...
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...
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...
NAR has committed to educate members and consumers about rental assistance but urges policy around the root cause of affordability issues. NAR offered the White House a commitment to educate its more than 1.5 million members on renter assistance and protections as part of the Biden administration’s new plan to alleviate rental affordability pressures across the country. The plan’s blueprint...
The interest rate for a 30-year loan hover near the best levels since September, nearly a whole percentage point down from a 7.08% peak just two months ago. Affordability woes are still spooking buyers, but another decrease in mortgage rates could bring them back to the market. The interest rate for the 30-year mortgage averaged 6.13% last week, Freddie Mac reports,...