Colorado Association of REALTORS | Residential Housing
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Residential Housing

Colorado Markets See Double-Digit Declines in Active Inventory

Wide range of local ingredients are flavoring housing markets across the metro area and state Contact:  Marty Schechter for CAR 303-882-4585 cell marty@schechterpr.com ENGLEWOOD, CO. – Nov. 12, 2019 – The anticipated seasonal slowdown in the housing market’s new listings has been met with strong pending/under contract numbers creating 13-20 percent declines in the inventory of active listings across the Denver-metro area and statewide,...

iBuyers: What REALTORS® Should Be Doing Now

You could say that iBuyers and their effect on the real estate industry is this year's hot topic. A panel comprised of industry experts discussed the iBuyer phenomenon at this month’s Fall Forum in Beaver Creek, CO, and offered insight into ways REALTORS® can survive in an ever increasingly competitive industry. Brandon Wells, President of The Group, Inc., explained that REAL-TORS®...

Peterson: Why I Hate Transaction Brokerage!

by Scott Peterson, CAR General Counsel In the July issue of the Colorado REALTOR® magazine, I wrote “Be Afraid! Your Misuse of the Transaction Brokerage Relationship” describing some of the changes that were being proposed to the Colorado Real Estate Commission rules regarding brokerage relationships. At its August 5, 2019 meeting, the Real Estate Commission did, in fact, adopt the...

CAR Government Affairs Staff Examines How Communities Are Tackling Housing Affordability

CAR Vice President of Government Affairs Elizabeth Peetz and Government Affairs Manager Bridget Garcia authored an article for the November 2019 issue of Colorado Lawyer in which they discuss how states, including Colorado, are addressing the challenges of affordable housing. As Peetz and Garcia note, states have used a variety of innovative funding sources for affordable housing, which include: Marijuana revenue: the...

Springs Housing Market Stays Strong Amid Seasonal Challenges

“September 2019 was another strong month for the Colorado Springs-area housing market for single-family/patio homes,” Colorado Springs REALTOR Jay Gupta said. " “Our average sales price was $368,430, with the median sales price of $325,500, and a 1.5-month supply of inventory,” Gupta said. “Since buyers generally purchase properties offering competitive values, 42 percent of El Paso and 31 percent...

Boulder Housing Market Stays Steady

Kelly Moye, a Broomfield-based RE/MAX Alliance Realtor and former president of the Boulder Area Realtor Association, told the Boulder Daily Camera, “It’s staying really steady. There are no huge dips or increases in home prices.” Only when prices go down more than 3% do people begin to take notice, Moye said. Sellers received almost 99% of the listed price for...

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...

Report: 2012’s Homebuyers Have Seen Equity Skyrocket

According to a recently released report from Redfin, people who bought a home during the downturn in 2012 have earned a median of $141,000, or 261 percent. The median home equity growth for Colorado Springs was among the highest, with an increase of $149,000 (677 percent). In Denver, the median home equity growth was 555 percent and the median home...

Aerial view of residential neighborhood with view of downtown Denver.

Denver Asks Residents to Fill Out Survey on 2020 Housing Action Plan

The Denver Economic Development & Opportunity office recently released a draft version of the 2020 housing action plan. The city is asking for feedback from residents as it relates to housing policies and spending priorities. Denver has $30.6 million set aside to address housing next year, including $12.9 million to address homelessness. Denver residents have until Oct. 10, 2019 to...

Study Shows Short-Term Rentals Have Little Effect on Cost of Homes

9News recently reported on a study conducted by Denver's Economic Development department showing that short-term rentals, such as AirBNB, have little impact on the cost of homes. Short-term rentals make up about 1% (306,714 units) in Denver. According to the report, “Short term rentals in Denver do not appear to have an impact on housing costs at the citywide level....