Monthly Roundup July: DMAR in the News
US News
Millennials Face Challenging Landscape Amid Housing Crunch
Outside forces including the 2008 recession and its fallout, the student debt crisis and now the COVID-19 pandemic are affecting pivotal moments in many millennials' lives, especially homeownership. Read More
MSN
June housing sales shows more inventory, less competition
Denverite
Denver home-ownership “totally out of reach” for low-income earners, according to one assessment
The median closing price for homes in this city landed at $545,000 last month, according to the Denver Metro Association of REALTORS®. All kinds of workers probably couldn’t afford at least half of the houses and condos that sold in June. (A quick math refresher, “median” means there were an equal number of sales below and above $545,000.) Read More
Denver is record-breakingly expensive: The median home price in June was $545,000
The median closing price for a home in the Denver metro area was a record $545,000 in June, according to the latest real estate market trends report from the Denver Metro Association of REALTORS® released this week. The amount is a 1.49 percent increase from May, and a whopping 22.47 percent increase compared to June 2020. Read More
Westword
Home Affordability in Denver and Colorado Getting Worse
The real estate scenes in Denver and Colorado as a whole continue to send mixed signals. Earlier this month, the Denver Metro Association of REALTORS® highlighted data suggesting that the local market could plateau soon, even as the average price for a single-family detached home hit another record high. And now, a new report from the Colorado Association of REALTORS® cites rising inventory and more pricing flexibility — yet affordability figures have never been worse. Read More
Denver Average Home Price Tops $725K for First Time Ever
The cost spikes in metro Denver have largely been driven by demand outstripping supply. But the number of new listings for detached homes in June, the most recent month for which data is available, actually exceeded the May total: 5,663 to 4,543. The number of active listings at the end of June (2,137) was also higher than at the end of May(1,336), hinting that the advantage held by sellers over buyers may be narrowing. Read More
The Denver Post
Why can’t Colorado millennials afford to buy a house? Hint: It’s not all that avocado toast.
Standing inside a bucket he purchased last fall, Alex Eherenman bathed in his work bathroom. Water pooled at his feet as he splashed himself from the sink faucet, but at least he wasn’t leaving behind a puddle. Read More
Denver real estate: Median home price hits record, but could bidding wars be cooling?
The median price of a single-family home sold in metro Denver in June reached a record $600,000, but a surge in new listings contributed to a record monthly jump in the number of homes available for sale, according to a monthly update from the Denver Metro Association of REALTORS®. Read More
The Denver Gazette
New listings soar in June in Denver home market
June brought some relief to homebuyers in the metro Denver market, as the number of new listings soared to 7,826 -- the highest number to hit the market in more than a year, according to the most recent report from the Denver Metro Association of REALTORS®. Read More
Axios
Denver housing inventory increased 50% from May to June
DMARs latest data show that while Denver's housing inventory is still historically low, inventory and new listings were both significantly up in June compared to May. Why it matters: Denver buyers have been facing all-out bidding wars for the last six-plus months. Any relief, no matter how temporary, will give them slightly more power. Read More
The Villager
Transforming the Blueprint for Housing Development in Colorado
The Common Sense Institute (CSI) is a non-partisan issue-driven non-profit organization of local business leaders that brings together experts of varied backgrounds to support Colorado’s economic vitality through sound fiscal and economic research. On June 25, CSI president Kristin Strohm presented CSI’s two 2021 Terry J. Stevinson Fellows, who summarized their research on the topic of what to do about the severe housing shortage in Colorado. Read More
Calculated Risk Blog
Denver Real Estate in June: Sales Down 1% YoY, Active Inventory Down 51% YoY
ales slumped in April and May 2020, so the year-over-year (YoY) increases were large for the previous two months. However, in June 2020, sales increased sharply, so sales are now down slightly YoY. Read More
Denver7
Expert says Denver rental prices are climbing at much slower rate
It’s a sellers’ market when it comes to housing in the Denver metro area, and for buyers that aren't ready to dive into the saturated and overpriced market, experts say now is the time to rent. Read More
Western Slope Now
Millennials face challenging landscape amid housing crunch
Standing inside a bucket he purchased last fall, Alex Eherenman bathed in his work bathroom. Water pooled at his feet as he splashed himself from the sink faucet, but at least he wasn’t leaving behind a puddle. Read More
Denver Voice
Advocates Say Investor Activity Could Derail Denver’s Affordable Housing Plans
Some affordable housing advocates are concerned that a recent surge of investor activity in Denver’s real estate market could derail the city’s plans to curb its appetite for affordable housing. Read More
The Denver Business Journal
A year after Denver's housing market kicked into high gear, here's what experts anticipate next
An unexpected rebound in the Denver metro's housing market has turned into more than a year of skyrocketing home prices, frenzied demand and shrinking inventory. And industry experts aren't anticipating a drastic swing in the opposite direction anytime soon. Read More
