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May 2022 Denver Real Estate News Recap

Denver Real Estate News - June

+ The median price of a single-family home in the Denver metro area was $670,106 last month, down 1.46% from April, but up 12.96% from last May. 

+ Is your home a part of an HOA? Gov. Polis signed HB22-173, which prohibits homeowner associations from seeking foreclosures against homeowners based solely on fines, and they will have a cap on those fines.

+ There’s finally something to buy! The metro area ended May with 3,652 properties for sale, a 76% increase from last May. 

May 2022 U.S. Real Estate News Recap

U.S. Real Estate News - June

+ A higher percent of homebuyers (40.5%) are looking at out-of-state homes, compared to the beginning of last year (36.4%). Six of the top 10 destinations were in the sunbelt. The main reasons driving people there? More affordable homes, remote work options, and warm, sunny weather.

+ CoreLogic published an interactive map of the country to show where home prices may be likely to drop in the coming year. The odds for Denver: very low.

+ If you’re looking to cash in on the “overvalued” housing market in Denver, CoreLogic’s map can help you find undervalued housing markets around the country to get more bang for your buck. 

May 2022 Real Estate Finance News Recap

Real Estate Finance News - June

+ Mortgage rates may be in for a bumpy ride in June. The volatility to those deciding whether they should lock a mortgage rate or wait.  

+ Mortgage rates stayed relatively flat since the end of April. 30-year fixed rates are hovering around 5.09% for the week ending June 2nd.  

+ With home values so high, when can a new homeowner get a HELOC and is it even a good idea? NerdWallet breaks down the right and wrong ways to use the cash and when you should wait altogether. 

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