Unaffordable Housing

Denver Real Estate News Recap: October 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Denver ranks as the 12th least affordable city as the typical home now costs five times the average family income. The rule of thumb for affordability is a price-to-income ratio of 2.6.

+ Ballot measures 2B, 2F, 301, 302, and 303 pertained to real estate or housing in Denver’s election this year. Statewide, Prop 120 sought to reduce the property tax assessment rate for multi-family homes. Results can be found on Denvergov.org and ballotpedia.org, respectively.

+ Vacancy rates for Denver apartments stood at 3.8% in the third quarter. Aurora, Broomfield, Golden, and Longmont have even tighter markets. When vacancy rates dip below 4%, dramatic increases in rents tend to follow.

 


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Denver Real Estate News Recap: September 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Denver area home sales fell in September, while inventory rises at a record amount, and median single-family home prices remain steady from August at $575K. Some Denver realtors say there is no housing bubble on the horizon.

+ Own a rental property or currently rent? Colorado SB21-173 offers new protections to renters starting on October 1st.

+ A growing number of adults ages 65 and older can’t afford to live in Colorado, the No. 1 state for housing instability amongst seniors.

 


 

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U.S. Real Estate News Recap: September 2021

Here’s a quick digest of what happened in U.S. real estate last month:

+ Single-family homes in the U.S. are less affordable than they’ve been at any point in the last 13 years.

+ Nationally, less homes (46.1%) are selling for more than their initial list price compared to earlier this summer (50.4% at the peak in June).

+ Indicators are showing early signs that the national housing market is beginning to balance. Despite these signs, the market is still historically strong.

 


 

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Denver Real Estate News Recap: July 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Things may be looking better for home buyers as Metro Denver saw its second biggest jump in its supply of homes for sale — triple the 3.1% jump seen nationwide.

+ … but perhaps not when considering that Metro Denver home prices set multiple home price appreciation records (15.5% in April and 16.2% year-over-year in May) and July rents rose 11.6% statewide. At least we’re not seeing increases like in Phoenix (25.9%), San Diego (24.7%), and Seattle (23.4%).

+ The Biden administration is developing a new eviction moratorium after a previous ban expired last weekend. While 12% of Denver renters owe back rent, landlords do not believe an eviction crisis is looming.


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Real Estate Finance News Recap: June 2021

Here’s a quick digest of what happened in real estate finance last month:

+ Falling mortgage rates are another sign that investors view the current spate of inflation to be temporary, however, housing affordability is becoming a bigger concern.

+ Freddie Mac reports that mortgage rates continue to hover around 3%, keeping the housing market booming. Yet, a deterioration in affordability and housing inventory is slowing the market.


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Denver Real Estate News Recap: June 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ April proved to be a record-setting month for Denver annual home appreciation — a whopping 15.4%.

+ Showings are down and bidding wars begin to tame in Denver’s real estate market. Will buyers start to find relief or are some walking away from their search after high price fatigue?

+ Colorado is on the verge of an affordable housing crisis so severe that it could derail the state economy and contribute to a significant deterioration in the quality of life for those priced out of the market. The Common Sense Institute released a white paper on actions to reduce the shortfall.


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U.S. Real Estate News Recap: May 2021

Here’s a quick digest of what happened in U.S. real estate last month:

+ Even with a housing shortage fueling high demand, builders are reluctant to sign sales contracts for houses as increasing costs are eroding profits.

+ Could home prices could reach unhealthy levels? Logan Mohtashami of Housing Wire believes that without more inventory or higher mortgage rates, we may be heading in this direction.

+ Love cooking on a gas stove or having an alternate source of energy when the power goes out? Stay in the loop about the battle that’s brewing over banning natural gas to homes.

 

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U.S. Real Estate News Recap: April 2021

Here’s a quick digest of what happened in U.S. real estate last month:

+ Many older millennials are burdened by housing costs, and it could keep them from reaching other financial goals.

+ What are the secret economic forces fueling the housing shortage? Inman’s Jim Dalyrymple II says increasingly expensive building supplies (think lumber, steel, and even paint) are driving up the cost of housing. Meanwhile, institutional investors are gobbling up to 20-30% of homes for sale, which is affecting inventory.

+ As ADUs or “granny flats” continue to grow in popularity, here are 4 hidden costs of accessory dwelling units that you should plan for.

+ Looking to sell soon? Find out the one thing you should never do to your yard before selling your house. Bonus: it’ll save you some cash!

 

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Denver Real Estate News Recap: March 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ A study finds that people didn’t abandon urban neighborhoods during the pandemic. Denver was among the most expensive large metro areas that saw a big decrease in urban in-migration and a small increase in urban out-migration during the pandemic.

+ Only 21% of Denver renters can afford a typical monthly mortgage payment ($2,376/month), compared to 27.4% nationwide, according to Zillow.

+ Denver homebuyers continue to have to move quickly and prepare for a bidding war as the housing market remains ultra-competitive.

 

 

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