Monthly Roundup June: DMAR in the News
RISMedia
Real Estate CEOs Mull 2022 Landscape Slowdown
That is the conundrum—summed up frankly by Anne Marie DeCatsye, CEO of the Canopy Realtor® Association in Charlotte, North Carolina—for anyone trying to parse out the current real estate market. As economists and practitioners all across the country have sought for months to draw comparisons, find context or create some kind of reasonable expectation for 2022, one of the biggest challenges has been accepting just how unbelievable the last two years have been. Read More
The Denver Post
Here’s how much life has changed since the Avs last won the Stanley Cup
The average home price in the Denver region at the time was $233,000, according to the Department of Housing and Urban Development. Last month, the average home price in the Denver region was $825,000, according to the Denver Metro Association of Realtors®. Read More
Did metro Denver’s housing market start to come off a pandemic peak in May?
Price gains flattened and the inventory of homes available for sale continued to rise in May, early signs that the gravity of higher mortgage rates might be finally starting to pull metro Denver’s housing market back to earth, according to a monthly update from the Denver Metro Association of Realtors®. Read More
AXIOS
Hot homes: Mile High listings under $1M
The city's housing market feels ripe for change, as the median closing price for a home fell at the end of May compared to April, per the latest report by the Denver Metro Association of Realtors®. Yes, but: The decrease was only about a quarter of a percentage point, per Andrew Abrams, chair of DMAR's market trends committee. Read More
All-cash offers for homes hit 10-year high in Denver
When it comes to buying a home in Denver, cash is king. What's happening: Cash offers — which most buyers can't put up — are a sign of a tight market, Axios' Felix Salmon writes. In this dog-eat-dog environment, there's little hope that steep mortgage rates will bring prices down, especially considering high borrowing costs don't deter cash buyers. Read More
Out There Colorado
Home prices DROPPED in Denver last month – but not by much
According to the Denver Metro Association of Realtors® (DMAR), the median closing price of Denver metro detached homes in May was $670,106, down from a median closing price of $680,000 in April. While this is the most significant drop seen since a drop from $599,900 to $580,000 between July and August last year, the median price had risen $104,000 to its high in April 2022 from a 52-week low of $576,000 last July. Read More
9 News
Housing market is impacting enrollment at Denver Public Schools
Denver Public Schools says it believes the city's expensive housing market is one of the reasons enrollment continues to decline. DPS is planning for thousands of fewer students over the next few years which will lead to a decrease in funding from the state. "Our enrollment has been declining at the elementary school level since 2014," said Liz Mendez, Executive Director of Enrollment and Campus Planning at DPS. Read More
CBS
Denver Metro Real Estate Cooling, But Don't Expect Prices To Chill
Amelie Hubert stood and looked at the ads for homes outside a Denver real estate business. One she longed for in the Washington Park neighborhood bore a price of $800,000. "That would be the perfect house for me," she said. It was like the one her sister recently bought in Belgium for the equivalent of $250,000. Read More
Denver 7
'There's opportunity': Denver housing prices dropped last month
For what feels like the first time in a long time, the housing market is shifting, and this time in the direction of the buyer. “This is probably one of the better times to be a buyer than we've seen for the last couple of years,” said Bret Weinstein, CEO of Guide Real Estate. Read More
Denverite
Denver home prices are finally slowing down
Even though prices are only down a little, Denver’s realtors say it could be the start of a larger drop in prices as interest rates and inflation hamper homebuying. Read More
Denver Gazette
'Return to normalization' predicted for Denver area home sales market
Possibly signaling a return to a more balanced home sales market, the average price of homes in metro Denver in May dropped from the previous month for the first time in 2022, according to the Denver Metro Association of Realtors® Market Trends Report released Friday. Read More
Westword
Denver Average Home Price Finally Goes Down, but Not by Much
According to the newly released June 2022 market trends report from the Denver Metro Association of Realtors®, the average price for a detached home in the Mile High City fell last month for the first time since January, as did the median sales price. But the dips are so modest they don't offer much relief to buyers. Read More
Denver Business Journal
Here are some signs that Denver housing market may be returning to normal
Might a sense of normalcy be returning to Denver’s housing market? It appears so, according to June’s monthly report from the Denver Metro Association of Realtors® (DMAR). Read More
