DENVER – February 4, 2016 –Following a record year for the Denver area housing market, 2016 started strong according to REcolorado, Colorado’s largest MLS and the provider of REcolorado.com.

Released today, REcolorado’s January 2016 report includes data from REcolorado’s 18,000 members who operate throughout the greater Denver Metro and surrounding area.

January’s indicators showed sizable increases in the number of new listings that came on the market, an indication that sellers are looking to get a jump on the selling season and take advantage of what continues to be a prime seller’s market. January saw 4,148 new listings of homes for sale, a 63 percent increase over last month and three percent more than last year.

Indicative of the competitive housing market, sellers continued to see extremely quick sales cycles. The average days on market was just 38 days, one day less than January 2015. Buyers began ... Read More

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By
Cicely Wedgeworth, Realtor.com, 6/1/2015

The housing market is chugging ahead, with even higher home prices and more buyer activity—and in May, we’re seeing more than the ordinary seasonal uptick.

“On the demand side, we are seeing traffic and searches on realtor.com® continue to set new highs,” said our chief economist, Jonathan Smoke, who did a preliminary analysis of our site’s data in May. Visits and searches are expected to be up more than 50% and 35%, respectively, year over year.

Helping create more opportunities for buyers, the listings inventory is now growing faster, at 4% over April—but it’s still down compared with last year, so buyers will need to keep on their toes. In part because of the limited inventory, the median list price increased nationally to $228,000, up 7% over the previous year and 1% over April. At the same ... Read More

To improve the service for consumers buying homes, here is some insightful news regarding changes to the closing settlement forms. Sounds like the scheduling of closings, which is typically 30 days out from the accepted offer date, may have to be pushed to 45 days out. From Realtor Magazine: “In case you missed it, as of August 1, the HUD-1 settlement statement and Good Faith Estimate forms are going away, as is the Truth in Lending Act disclosure.” This short video explains what you need to know about the changes to the closing process:

Home Buyers – Upcoming Changes in Closing Process

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