DMAR Digest | Week of September 19
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Application Now Open for DMAR Gives Funding
Our social responsibility program, DMAR Gives, is now accepting applications for funding! If you know of a non-profit working to improve the quality of life for Coloradans and create a path towards stable housing and homeownership please let us know and/or pass along the application form below.
Funding requests must be provided by the application in order to be considered by the DMAR Gives Committee. Funding decisions will then be based on the annual budget, available funds, scale of impact and whether the request falls within the Mission Statement and Giving Policy of DMAR Gives. Organizations that receive a grant are required to submit a report that confirms that the funds granted were used for the intended purpose and provide impact data. Initial grants are one year in duration.
Questions? Contact us at communications@dmarealtors.com or visit DMARgives.com to learn more.
Skim this
Housing affordability hits worst level in 37 years
Housing affordability hasn’t been this bad since Ronald Reagan was president. It now takes 35.51% of the median household income to make a principal and interest payment on the median home with 20% down, according to figures mortgage technology and data provider Black Knight shared with Yahoo Money. Read More
Mortgage Rates Hit 6% for the First Time Since 2008, While Applications Fall to Lowest Level Since 1999
A surge in mortgage rates to 6% is giving home shoppers chills, pushing them to wait to refinance or buy a home. With rates doubling from where they were a year ago, demand from buyers continues to weaken, as reflected in the Market Composite Index, a measure of mortgage application volume. The index is now at its lowest level since December 1999, the Mortgage Bankers Association (MBA) said on Wednesday. Read More
Rising interest rates, timid buyers shift Denver housing market
With interest rates rising, the Denver housing market is cooling off, and sellers are starting to feel squeezed. The days of multiple offers thousands of dollars over list price vanished, and homes take longer to sell despite continued limited inventory. According to the Denver Metro Association of Realtors Market Trends Report, the average new listing went under contract in 19 days in August, up from 13 in July to 10 in June. Read More
The Housing Market Is About To Get Hammered: What Homebuyers, Sellers Should Know
Homebuyers should expect their financial pain to worsen in the coming months. Mortgage interest rates are expected to keep rising, likely surpassing 6%, in response to stubbornly high inflation. This could accelerate the housing market correction, which is already well underway, by making purchasing a home even more expensive for cash-strapped buyers, pricing many completely out of the market. Read More
Are we seeing a mortgage rate lockdown?
The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because we hadn’t had a period where mortgage rates moved up so quickly and then held higher for an extended period. But now this is a real risk. Read More
Inflation, home price growth headed downward: Fed report
Inflation is expected to continue “to decline across all horizons” over the next year while home price growth, too, is projected to decline “sharply” to the lowest level since July 2020, according to the most recent Survey of Consumer Expectations (SCE) released by the Federal Reserve Bank of New York. Read More
NAR Mentorship Program Helps Agents Discover New Niches
As the housing market slows, real estate pros may find it’s a perfect opportunity to explore new niches and expand their business opportunities. They’re finding that NAR Spire, the National Association of Realtors®’ mentorship program, may provide guidance and encouragement. Read More
City and County Market Trends Reports | SEP. '22
Quick look at City and County Market Trends Reports featuring August data. These 48 downloadable reports are comprehensive and a fantastic member benefit. Download all the reports with one click below. Read More
Realtors® Are Donating More Money, Time to Charity
Two-thirds of Realtors® say they volunteer on a monthly basis, spending an average of eight hours per month giving back, the report shows. Further, 79% made charitable donations last year. Realtors® were most likely last year to volunteer to deliver food to the elderly or help food banks with COVID-19 relief efforts, according to the report. Twenty-two percent of Realtors® say they hosted an annual fundraiser for their local community or nonprofits. Read More
Resources & services
Apply to Attend Our Next Lunch with an Icon with Carmelo Paglialunga
Join us on October 19th at 11:00 AM for Lunch with an Icon featuring Carmelo Paglialunga, Owner/Broker of milehimodern, and a 2022 Excellence Awards winner. This is a unique opportunity to hear from one of the most successful individuals in the business, ask questions and network with other engaged Realtors®. If you are interested in attending this exclusive lunch, please complete the application by September 27th. Apply Now
Dues are Due! Renew by September 30th
The time has come for you to renew your membership with DMAR. We know you have a choice of which Association you belong to, and we want to say THANK YOU for choosing DMAR. We hope you will allow us to continue to serve you by renewing your membership today. Deadline to pay is September 30, 2022. Join/Renew Here
56 Safety Tips for Realtors®
September is Realtor® Safety Month. Real estate agents are listed as a high-risk occupation for a number of reasons. Be aware of these 56 safety tips and share them with your colleagues to stay safe on the job. Read More
Donate to DMAR Gives
DMAR Gives is our new social responsibility program that envisions a Denver Metro community in which everyone has access to stable housing, equality in the home buying process and support in achieving self-sufficiency in life. DMAR Gives works to provide funding to programs that improve the quality of life for Coloradans and create a path toward stable housing and homeownership, as well as provide housing-related disaster relief in the communities where our members live and work. Learn More
DMAR Real Estate Market Trends Report | SEP. '22
All major statistical categories point towards the market slowing down. Days in the MLS went up 120 percent since last year at this time, and the close-price-to-list-price ratio dropped below 100 percent for the first time since July 2020, to 99.41 percent. Meanwhile, the median sales price decreased 2.54 percent from the previous month. Read More
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.
Just for you
Three Tier Benefits | Mevi
As a member of DMAR, you also gain access to member-only benefits and services from the Colorado Association of Realtors® (CAR) and the National Association of Realtors® (NAR).
Imagine data-driven transaction management, revolutionary form filling and signing, and a suite of collaboration tools available anytime and across any device. Meet Mevi, a personalized app experience unlike anything else on the market. With data-driven dashboards that show deadlines, tasks and messages, your clients will be delighted and tell their friends. Plus, Mevi works alongside, and compliments, any other solution on the market, including CTMe and Docusign.
Exclusive offer: DMAR members receive 50% off of their Pro subscription, plus Mevi is always free for clients.
