denver metro association of realtors

The National Association of Realtors announced Friday that it had reached a legal settlement that upends the traditional model of sellers paying for the buyer’s agent in a home purchase. The agreement has the potential to save home sellers billions of dollars every year, but could also complicate purchases for buyers. The NAR, the largest trade group representing residential real estate agents, agreed to pay $418 million over four years to settle claims that the group and its members engaged in uncompetitive practices…

Metro Denver’s housing market saw signs of an early spring last month, with both new listings and closings rising sharply, according to an update from the Denver Metro Association of Realtors. New listings, a measure of seller activity, rose 29.1% month-over-month to 4,243, an increase of 22.6% from a year earlier. Closings were up 31.2% month-over-month to 2,864, but they remain down 0.45% from year-ago levels. There were 5,511 homes and condos available for sale at the end of the month, an increase of 13.1% from January…

Sellers in metro Denver rose from their slumber last month, putting more new listings on the market and setting the stage for a larger number of home closings this month and next, according to a monthly update from the Denver Metro Association of Realtors. New listings, which have been restrained since interest rates started rising from historic lows in 2022, jumped 90% between December and January to 3,280 and are up 14.7% from a year ago. Big jumps in listings between December and January, however, are common, and back…

Since November, Joe and Sarah Webber have searched for a larger home to replace the small bungalow they own near the University of Denver in the Corey-Merrill neighborhood. They want to stay in that part of Denver, with its spacious parks, but doing so will cost them at least $1 million for a basic home large enough to accommodate future kids. They are realizing that $1 million, even $1.2 million, doesn’t buy what it used to, much less what they hoped it could. “We are feeling like prices are high, which we knew. But it…

A year ago, many economists were predicting a recession in 2023. It didn’t happen, and inflation has fallen sharply. The consensus outlook is a bit rosier, arguing that 2024 will also avoid a downturn. But a recession delayed is not one denied, economist Elliot Eisenberg argued before a large crowd of Denver area real estate agents gathered Thursday morning for the Denver Metro Association of Realtors Economic Summit. “Nothing is awful, but I do think that we get a recession,” said Eisenberg, who doubled down after his…

Steve Chapman’s full house sometimes feels like it’s bursting at the seams. The 45-year-old and his wife welcomed Chapman’s mother and stepdad into their Aurora home a few years ago after his mom’s landlord sold the Loveland trailer the couple lived in, leaving them unable to afford Colorado rent on their Social Security income. “The idea was it’d be temporary to help them get going, but it’s impossible to make it here, it seems,” Chapman said of the living arrangement. Then the Chapmans’ 23-year-old daughter fell on…

Metro Denver’s housing market faced a second year of tough sledding in 2023, with both closings and the dollar value of transactions down by about 18% compared to 2022, according to the Denver Metro Association of Realtors. Last year, the number of closings fell by 20.8%, but the value of transactions was down a smaller 12%, because of home prices rising in the first half of that year. Despite the headwinds from much higher mortgage rates, which approached 8%, home prices didn’t drop as many buyers had hoped they would.…

Lower mortgage rates motivated some buyers to get busy last month, but it wasn’t enough to prevent the seasonal slowdown seen this time of year in metro Denver’s housing market, according to a monthly update from the Denver Metro Association of Realtors. Buyers closed on 2,664 homes and condos last month, a 15.9% drop from the 3,169 homes sold in October. November closings were down 14% year-over-year and through the first 11 months of 2023, with the overall sales volume is down by nearly a fifth. Properties took longer…