Rising Home Prices

U.S. Real Estate News Recap: August 2021

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

+ CoreLogic forecasts that homes will appreciate a more modest 3.2% over the next year compared to the mind-boggling 17.2% gains they saw over this past year.

+ COVID may have killed open houses, but it hasn’t stopped home sales. Live video and virtual 3D tours are helping the 10% of buyers that purchased homes this year without physically seeing them first.

+ Home prices have risen for the third straight month nationally, which are up 18.6% from a year ago. Denver is one of the six cities leading the hot housing market, seeing record price appreciation over the last year.

 


 

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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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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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Denver housing market up 18.8% since January

Interest rates are back above 3% again, and the Denver housing market didn’t even notice! In fact, the bidding wars that everyone keeps talking about (which are real) have pushed the median sale price for single family homes past 600K, a record high for Denver and an 18.8% increase since January. Inventory, typically measured in months, was down to 1.06 months in March. There is so much pent-up buyer demand that I believe we’ll soon be measuring it by weeks. This is going to be another fast-paced, multiple-offer summer unless we start seeing a large number of listings hitting the market soon.

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Denver home prices reach an all time high

In case you missed it, the single family housing market is on 🔥 ! February’s numbers are in and the median sales price jumped 11% from January and almost 23% from February 2020’s benchmark. In fact, this month’s median sale price has set an all time high for Denver City and County. With interest rates hovering around all time lows and outpacing buyer demand, don’t expect to see the rising home prices reverse until inventory increases dramatically. Until then, we will be on the edge of our seats, feverishly watching!

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U.S. Real Estate News Recap: November 2020

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

+ Home prices across the U.S. are seeing the greatest gain in over six years.

+ A report from the National Association of Realtors found that the pandemic has increased the percent of homebuyers looking for a multi-generational home, that the average purchase price jumped from $270,000 to $339,400, and that a growing percentage of buyers are headed to the suburbs, while less are heading to small towns.

+ Curbed came up with a list of 21 of the easiest home projects to tackle while you’re hunkered down at home this winter, without buying anything new.

+ With the continued presence of COVID-19, outdoor kitchens are growing in popularity.

 

 

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U.S. Real Estate News Recap: September 2020

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

+ The national median home price rose 11% since last year — the largest annual increase in over 6 years.

+ COVID-19 has caused lumber prices to skyrocket more than 160%. Home buyers can expect to add about $16,000 to the price of a new house.

+ The share of mortgages in forbearance decreases to 3.4 million homeowners — a drop of 6 basis points.

+ With 84% of parents considering a home education model for their kids, back to school is affecting home buying decisions.

+ Think an empty nest is looming? Think again. 52% of young Americans ages 18 to 29 are now living with at least one of their parents.

+ When COVID-19 changes education plans, here’s how to set up a homeschool space anywhere.


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