Home prices in metro Denver, the largest housing market in Colorado, are falling as rising interest rates continue to cool demand. But prices aren’t collapsing and are still high enough to shut a lot of buyers out of the market.
Read MoreThe housing market is cooling as consumers grow weary of higher mortgage rates. In December, the number of newly-listed homes sold had fallen about 37% from a year ago, according to Redfin data.
Read MoreAfter two-thirds of New Haven County cities and towns generated sufficient numbers of new home listings to replace those sold in the third quarter, the market remained balanced into December, signaling a break in the high prices that have thwarted many Connecticut buyers during the pandemic real estate market.
Read MoreProperties are being listed for longer, and home prices are up nearly 5% from this time last year. Sellers, as they typically do, are waiting till the New Year to put their homes on the market.
Read MoreThere's no doubt the Denver metro's housing market is cooling, as mortgage rates that more than doubled since January have dissuaded potential homebuyers.
Read More“The market is entering a period of neutrality where the bullish ways of extreme markets make way for a stage of compromise, with buyers and sellers working together for a win-win experience,” wrote Levinson-Katz.
Read MoreAccording to CAR’s latest statistics:
Single family homes in Denver County are sitting on the market longer – about 18 days this month, compared to 11 in August 2021.
Last August, single family homes in Denver County sold for 102.4% of list price, compared to 99.1% this August…
Higher mortgage rates continue to make it less enticing for potential buyers to look for a new home.
Denver-area home prices continue to drop month-to-month, though they are still higher than they were this time last year.
Read MoreColorado’s capital has transformed from a city in decline into a magnet for the affluent.
Statistically speaking, Denver’s economy is on fire. Unemployment has more than halved in the past year, GDP is expected to grow 73% faster in 2022 than the national figure and inflation — even more so than in the rest of the country — is on a tear.
Read MoreWith home prices increasing by over 30% nationally since June 2020, many people wonder if Denver is in a housing bubble about to burst.
However, experts say several factors indicate Denver’s housing market remains strong.
Read MoreFrom this time last year, median house prices have risen 11.5%, to $723,750, in metro Denver metro, according to the latest Market Trends Report from the Colorado Association of Realtors. In normal times, that would be a hefty hike. But it’s nothing compared to recent years, when home prices have been rising around 20%, from one year to the next.
Read More“There’s a great balance of access to the city and nature with the kind of tight-knit community we had in Williamsburg,” said Ms. Jones, the director of gallery operations and sales for the Robert Mapplethorpe Foundation.
Read More"Gone are the days that a seller can simply put a sign in the yard and expect their home to sell," the Denver Metro Association of Realtors reports.
Read MoreBig shifts are increasingly favoring buyers over sellers
A big chill continued to descend on metro Denver’s housing market last month as home sales fell sharply and the number of listings continued to soar, according to a monthly update from the Denver Metro Association of Realtors.
Read MoreIt’s still a seller’s market, whether it feels that way or not.
In May, the median price of a home in the United States passed $400,000 for the first time, according to the National Association of Realtors. And bidding wars accounted for 55 percent of home sales in the four week period ending June 19, up from 53 a year earlier, according to Redfin.
Read MoreA new state program in Connecticut is helping residents achieve their dreams of being first-time homebuyers by providing up to a $25,000 forgivable loan for down payment assistance in purchasing a home in Bridgeport.
Read MoreMetro Denver’s housing market is facing some major headwinds that will contribute to a larger than expected drop in home sales and slower than predicted price gains, according to a mid-year update from the Denver Metro Association of Realtors.
Read MoreIn Weston, Conn.: a three-bedroom, four-and-a-half-bath, 5,864-square-foot home with three fireplaces, a living room and dining room that have two-story windows and attractive wood ceilings, a new kitchen, a family room with a wall of windows, a primary suite that has a large bath with heated floors, a finished lower level that has a second family room, office and gym, a detached two-car garage, a heated in-ground pool with a stone patio, and a tennis court, on 5.36 acres.
Read MoreNationally, supply has increased, too, leading to more options for potential buyers. Active home listings have increased on a year-over-year basis for the fifth week in a row, according to Realtor.com data released today. And for the first time in seven weeks, median listing price growth slowed—though it remained well above the historic norm.
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