“A house is still worth what somebody is willing to pay for it,” Rhead said. “And because of the lack of inventory, because of the number of buyers out there and the qualifications of those buyers, it’s just going to continue to raise the market value.”
Read MoreAccording to the most recent housing report from DMAR, the number of active listings in January 2022 is down nearly 50% compared to January 2021.
Shortage of available housing drives metro area home prices up.
Read MoreReal estate continues to be a booming industry in the metro area — especially in the past couple of years. In 2020 and 2021, Denver’s real estate market grew by $208 billion, the report stated. It grew by $212.1 billion the decade prior.
Read MoreTwo years into the pandemic, rundown bungalows command bidding wars, buyers keep snatching up places they’ve never seen, and homebuilders can’t find enough cabinet doors for everyone who wants a new home. The median price for an American home is up nearly 20 percent in a year. The for-sale inventory is at a new low. And the hopeful buyers left on the sidelines have helped drive up rents instead.
Read MoreFor Denver County, renting takes a little more than a third of average monthly pay, while buying a home consumes nearly half. The average 2022 monthly rent for a three-bedroom unit in Denver, according to Attom, is $2,416, a slight increase from 2021.
Read MoreIn Fairfield County, single-family listings have dropped to their lowest level on record, according to appraisal firm Miller Samuel for Douglas Elliman. Listing inventory in the quarter was 898 homes, a 46.4 percent drop from the third quarter and a 38.8 percent drop year-over-year, marking the fastest-moving market in 17 years.
Read MoreFor the past two years the real estate market in Denver Metro, as well as the rest of the country, has been moving at lightning-fast speeds. Thanks to the increased demand for homes and the limited inventory of available houses, home prices have increased at a much higher rate than many consumers are used to.
Read More"Real estate prices climbed across the country up 20% year over year but especially in some markets," says Caleb Silver with Investopedia. "In Connecticut, we saw Litchfield County up at 20.8% just above the national average but as you go down state, New Haven up 17.8%, Fairfield 16.4% and Hartford only up 15.5% year over year."
Read MoreThe real estate market in Denver was hot in 2021. However, Realtor.com is predicting a cooldown could be on the way for the Denver real estate market.
Read MoreThe New Year has officially begun, and many consumers are looking for a fresh start. Whether that be a new routine, refined goals, or a refreshed mindset, most people have their sights set on something that they want to accomplish in 2022.
Read MoreFor much of 2021, the suburban New York real estate markets continued to be dominated by bidding wars, long lines at open houses and rising prices, as the housing inventory in many communities fell short of demand.
Read MoreLow inventory plus high demand equals a difficult time for homebuyers, unless they have very deep pockets, CBS2’s Tony Aiello reported Friday.
“For Sale” signs are few and far between in Westchester County. Just about 700 single-family homes were listed in the 4th quarter of 2021. That’s down 45% from 2020.
Read MoreOmicron has indisputably put a damper on early 2022—and as COVID-19 infection rates continue to climb, many may wonder whether we’re headed toward another nationwide shutdown of schools, businesses, and other #lifegoals that may have just begun sputtering back to life.
Meanwhile, homebuyers who’ve vowed that this is the year they’ll finally buy a house might feel as if a wrench the size of a Mack truck was thrown into their plans. Will open houses even be allowed? Will home sellers pull their listings, thinking it’s not worth the risk?
Read MoreDespite a serious lack of inventory and a blistering sales pace, Denver doesn't rank anywhere close to the top of a recent Realtor.com forecast of the hottest real estate markets of 2022.
The Denver metro comes in at number 48 out of the nation's top 100 metros in terms of the predicted change in price and number of sales for next year – that's an 11% total increase, 6% for number of sales and 5% for home prices.
Read MoreMetro Denver homebuyers who thought it was tough to find for-sale homes in December will be sorely disappointed if they thought a new year would bring more inventory.
Read MoreDenver may need to redefine the “luxury” residential market.
There’s something of a mythical quality to a $1 million price tag. But sales of a single residence above that mark are becoming more and more common in the region.
Read MoreOne of the most sensational years in the history of U.S. real estate is drawing to a close, and the momentum is quieting down a bit, but people are still rushing to buy homes and the housing shortage is far from over.
Read MoreOneKey MLS, reporting detailed, month-over-month statistical information about residential, condo, and co-op sales transactions in the regional MLS coverage area, finds that the closed median sale price in November 2021 was less than it was in October 2021.
Read MoreThough many economists predict that home price growth will slow in 2022, a lack of available inventory will keep things competitive for buyers for the foreseeable future.
Read MorePotential buyers are coming up empty in their search for a place-- and that’s sent contracts plunging for the fifth consecutive month in Westchester County and Long Island, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.
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