DMAR Digest | Week of June 20
Must read
#NewDev22 is this Thursday... do you have your ticket yet?!
🔎 We have the inside scoop on new inventory. With reps from nearly 15 developments present at this trade-show-style event, you'll surely find some hidden gems for your buyers.
👥 Build relationships with developers. Stay connected with developers and be in the know about different neighborhoods builders are working in and to-be-built homes and condos available.
🤝In-person networking. We are expecting over 200 attendees - be sure to bring plenty of business cards.
💬 Hear an update on new-build activity. Jason Batchelor, Deputy City Manager of Aurora, will kick off the event with an economic update plus an overview of new-build activity.
💥 Get your hands on the coveted printed booklet. We have people call and email us every year just to ask for a copy of this booklet. It's 30+ pages filled with contact info for each development along with floor plans, images, property details and more.
Skim this
The Current State of Mortgage Rates | Guest Post
Rates will continue to be a topic of conversation for your clients, but now that we have the Federal Reserve meeting out of the way mortgage rates should settle down and there should be less volatility until the week before July 26-27 when the FOMC meet again.Read More
Mortgage Rates Surge in Latest Week by Most Since 1987: Freddie Mac
The U.S. 30-year fixed-rate mortgage averaged 5.78% for the week ending June 16, according to data released by Freddie Mac on Thursday. That’s up 55 basis points from the previous week—one basis point is equal to one hundredth of a percentage point.The average rate on the 15-year fixed-rate mortgage rose 43bp over the past week to 4.81%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.33%, up 21bp from the prior week. Read More
Realtors® Foresee Strong But Calmer 2023 Market
Buyers will feel a little less pressure as home prices stabilize and the inventory crunch begins to slowly loosen over the next year, CEOs of five Realtor® associations across the country predicted during a Tuesday webinar, “2022 Housing Market: Boom or Bust?” virtual briefing presented by the Northern Virginia Association of Realtors®. The leaders—from associations in Colorado, Nevada, North Carolina, Texas and Virginia—offered insights into their local markets and how they compare to the nation as a whole for the remainder of the year and into 2023. Read More
Are home prices about to fall?
We are at the point of the economic cycle where I really just get two questions: Are we going into recession and are home prices about to fall? I am going to do my best to try to make sense of what is happening with the housing market right now since the years 2020-2024 have been a talking point of mine for years and my biggest concern since the fall of 2020 has been prices overheating — not having a deflationary collapse. Read More
Housing starts data raises 5th recession red flag
I’m raising my fifth recession red flag today based on the Census Bureau‘s May housing starts data. Housing starts showed a miss on the estimate but positive revisions. Housing starts came in at 1.549 million and housing permits came in at 1.695 million. Housing completion data did grow to 1.465 million and more of the backlogged homes are finished. However, considering Wednesday’s builder confidence index and mortgage rates over 6%, it’s time to raise the fifth recession red flag, since the builders will have a tough time growing housing starts with rates this high. Read More
Investors are buying fewer homes than pandemic peak, but their share continues to grow amid changing housing market
Nobu Hata, CEO of Denver Metro Association of Realtors®, said during a media briefing this week the institutional buyer share of the broader Denver metro area is 14% higher than the national average, citing National Association of Realtors® data. Rents are going up because of that. Read More
Resources & services
DMAR Home Kit | Your Toolkit For Everything Home
The DMAR Home Kit makes finding local professionals and housing market updates as easy as a tap of your finger. It's your one-stop-shop for connecting with top home service pros near you, exclusive discounts and offers, award-winning market stats and more. Whether you’re looking for a roofer, painter or mortgage lender, all of our service providers are trusted Industry Partner members of the Denver Metro Association of Realtors®. Read More
RElumio™ - Impress Sellers. Engage Buyers. Easy & Automated!
DMAR invites you to experience RElumio™ - a comprehensive, powerful, digital marketing platform that integrates directly with REcolorado to instantly create engaging single property websites, social media listing videos and digital flyers with “one-click” sharing on your favorite social media channels from your listing content. Read More
DMAR Real Estate Market Trends Report | JUN. '22
After consecutive months of appreciation, negotiations and bidding wars, modest numbers this month became a sign that the market has returned to a semblance of ‘normal.’ The housing market ended May with 3,652 properties on the market, representing an increase of 448 properties from the previous month, which is seasonally on trend. Closed sales increased 3.75 percent from the previous month, keeping supply and demand relatively balanced. Read More
Blueprint for Homeownership [PDF]
Thanks for helping us make our first-ever Housapalooza a success! This was a great consumer-facing, educational event for first-time homebuyers in metro Denver. Attendees received a digital resource guide with great information and resources. Missed the event but want to view the resource guide or share it with your clients? View/Download the Resource Guide
DMAR Staff is Here to Help
If you are looking to reach a specific department or staff person, please refer to the staff directory here, or contact our main line at 303-756-0553 or email help@dmarealtors.com.
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