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Value of homes in the Denver metro area grows to $265 billion in 2013
Homes in metro Denver gained $21.9 billion in total value in 2013 – up from a gain of $18.6 billion in 2012. Overall, the cumulative value of all homes in metro Denver is $265 billion, according to the report by Zillow. Nationwide, homes are expected to gain almost $1.9 trillion in cumulative value in 2013, the second consecutive annual gain and the largest since 2005. Read Article
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U.S. mortgage applications rose 4.7% last week
The average number of mortgage applications grew 4.7% on a seasonally adjusted basis as interest rates fell from the prior week. On an unadjusted basis, the market composite index grew 7% from the previous week. Interest rates have dropped the last two weeks, contrasting with a recent trend of rising rates since early November. Read Article
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Home demand to remain high as supply shrinks
Residential real estate demand is expected to remain high through 2014, but the region’s supply of homes is 13% lower than a year ago and challenges faced by builders to bring new homes to the market are mounting. Year-end data from IRES show that there were 3,346 fewer homes on the market at the end of 2013 than at the end of 2012 in the three largest metro areas in Northern Colorado. Read Article
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Colorado Springs apartment rents hit record high in second quarter
While several new apartment projects have been announced by developers over the last couple of years, the number of units completed and available for rent has yet to significantly increase the overall supply. Around Colorado Springs, second-quarter rents were highest on the city’s far northeast side, where apartments averaged $902 a month. The lowest average rents of $664 were found in the city of Fountain and the unincorporated Security-Widefield areas south of the Springs. Read Article
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Fort Collins, Boulder lead real-estate recovery
Fort Collins-Loveland and Boulder are two of the top 20 markets leading the real-estate recovery, according to RealtyTrac. Fort Collins was in eighth place with a recovery index of 157, and Boulder was in 14th place with a recovery index of 145. In Fort Collins, home prices have increased 21% from their lowest point, while in Boulder prices have increased 40% from their trough. Read Article
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Metro Denver home prices reach all-time high for second month in a row
After reaching an all-time high in May, local home prices continued their climb, setting another record in June, according to the S&P/Case-Shiller Home Price Index. Denver home prices grew another 1.7% in June. The city’s index level in June was 143.37 Read Article
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Colorado Springs’ housing market continues to improve
The improving Colorado Springs-area housing market showed no signs of slowing last month, as home sales soared and prices jumped to their highest levels in six years.
Local single-family home sales totaled 1,104 in June, a 30.5 percent increase over the same month last year and the highest number of home sales for any June since 2007, according to a report by the Pikes Peak Association of Realtors. Read More
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