DMAR Digest | Week of July 11
Must read
2022 Forecast: Midyear Update
We've put together a special 2022 housing market forecast midyear update featuring commentary by former Chair of DMAR's Market Trends Committee, Steve Danyliw, as well as Lawrence Yun, Chief Economist and Senior Vice President of Research at the National Association of Realtors®, and Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors®.
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New Leadership Positions Open with NAR, CAR and REcolorado
We have four open seats for NAR, CAR and REcolorado Directors. To be considered, submit your application by 5:00 PM on Thursday, July 21st. This is a great opportunity to get involved in a leadership position, as well as take advantage of the chance to proudly represent the interests and concerns of your fellow members. Read More
New-Home Costs Rising at Unparalleled Rate
The average cost for materials to build a single-family home jumped 42% from 2018 to 2021, adding thousands of dollars to the price of a new home, according to the report. The median sales price of a new home in April reached a record $450,600, a 20% hike from a year earlier, Commerce Department data shows. Read More
Purchase mortgage rates fall 40 bps amid recession fears
Purchase mortgage rates this week continued their recent downward trend, dropping 40 basis points to 5.30%, according to the latest Freddie Mac PMMS Index. A year ago at this time, 30-year fixed rate purchase rates were at 2.90%. The PMMS, a government-sponsored enterprise index, accounts solely for purchase mortgages reported by lenders during the past three days. Read More
June housing sales: Prices are flat while inventory is up
Like every month, there's some good news and not-so-good news if you're looking to buy a home in Denver. We're gonna kick it off with the good news, and that's that there are more homes on the market, that just keeps increasing and increasing. The not-so-good news is so does the average price of a home. Watch Video
DMAR Real Estate Market Trends Report | JUL. '22
As month-end active inventory skyrockets, the Denver Metro hit a new record for the average price of attached properties at $504,193. At the end of June 2021, Denver Metro ended with 3,122 properties on the market. It has now almost doubled that amount over the year, with a total of 6,057 properties currently sitting on the market. Read More
Digging Deeper: June 2022 Records
June 2022 was yet another record-breaking month. In this report, the DMAR Market Trends Committee examined the various records broken in this month. Read More
Inventory is Double But Still Short of Need | Guest Post
Inventory exceeded demand in June for the first time since June 2020, spiking at 94 percent year-over-year and 66 percent month-over-month. According to Redfin, price reductions increased to 40 percent of homes on the market in Denver. If the story ended there, it might concern me. Read More
Denver Home Price Average Over $700,000 — Again
Denver home prices aren't supposed to rise during cold-weather months. Since fewer people tend to look for new housing at this time of year, costs traditionally slide and relative bargains become available. Read More
Resources & services
New Sponsorship Opportunity
Bee noticed as a sponsor at DMAR’s first-ever spelling bee fundraiser for RPAC! Here’s your chance to become an RPAC major investor and have fun while doing it! The event will be held in-person Thursday, July 28 from 5:30 PM to 8:30 PM at The Soiled Dove Underground in the Lowry Town Center. Read More
What the Spell? | An RPAC Fundraiser
Get ready to out-spell (or out-cheat) the competition at DMAR's first-ever What the Spell, a tournament of verbal smarts and fraudulence - aka a spelling bee fundraiser for RPAC. Grab some teammates and sign up to compete against other three-person teams or just come and watch the fun as part of the audience. The best part? All proceeds, including ticket sales, go to RPAC. 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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Three Tier Benefits | Avis Car Rentals
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).
Get more out of every trip with Avis. Avis Rent A Car System LLC and its subsidiaries operate one of the world's best-known travel brands with 5,000+ locations in more than 165 countries. Enjoy exclusive travel savings and perks as an NAR member.
1. Save up to 25% off base rates on car rentals at participating locations in the U.S. and Canada.
2. Avis coupons can be combined with your regular NAR discount for greater savings. See promotional coupons found below.
Include the Avis Worldwide Discount (AWD) code #A009701 when making a reservation to receive your exclusive savings and benefits. This discount code must be included at time of reservation in order to receive the discount benefit. Also make sure to include a promotion coupon, if applicable, for maximum savings.
