Monthly Roundup July: DMAR in the News
Our Association caught the attention of several major media outlets this month including the Denver Post, Denver Business Journal, Denverite and Denver7.
The Denver Post
Colorado faces massive shortage of construction workers. A fix won’t be easy.
Statewide population is expected to increase to 6.43 million — adding nearly a million more people in a decade — and it’s projected to hit 7 million by 2035, according to the State Demography Office. Denver alone needs between 16,000 and 18,000 new homes per year to keep up, according to John Covert with the Denver Metro Association of REALTORS®. But last year, only 11,038 home starts were counted across Denver by Metrostudy, a Hanley Wood company that tracks home foundations. Read more...
Jump in homes for sale in Denver provides…
Good news for buyers: Denver’s perpetually tight real estate market loosened up in June, according to a market trends report by the Denver Metro Association of REALTORS®. Residential inventory in the Denver metro area increased nearly 20 percent in June compared with May. Though the added inventory could be a sign that the market is shifting to be more buyer-friendly, experts do not believe prices will drop quite yet. “The rate of (price) growth is slowing,” said Steve Danyliw, chairman of the Denver Metro Association of REALTORS'® market trends committee. “It’s not unexpected. The reality is that having double-digit growth is unsustainable.” Read more...
Denver Business Journal
Metro Denver average home price continues climb
The average price of a home in metro Denver across all product types increased by just over 8 percent in June year-over-year, reaching $454,547, according to the latest data from the Denver Metro Association of REALTORS®. At the same time, the number of active listings on the market in metro Denver increased by about 3.8 percent to 7,059. Read more...
Denverite
Denver real estate right now, explained in 5 numbers
Only 26 percent of Denver metro houses for sale last month cost less than $400,000, according to the Denver Metro Association of REALTORS®. That’s down from 65 percent in 2011. Even though $399,999 may still be out of many people’s price range, I thought it was an apt illustration of the growing housing unaffordability. Read more...
Denver7
Denver metro home prices up more than 11 percent so far in 2017
The median sale price of all residential properties – both single-family homes and condos – was $389,000 in June, according to the latest data from the Denver Metro Association of REALTORS®. That’s 2.09 percent higher than the month before and 6.85 percent higher than the same time last year. Since January, the median sold price has increased 11.14 percent. Read more...
