Wednesday, September 5, 2012

Housing News Digest, September 5

Colorado apartment hunters squeezed between low vacancies, high rents Finding an apartment — let alone an affordable one — has grown increasingly challenging in Colorado and the rest of the nation. With vacancies down and rents up, it's a landlord's market. "I've never seen it this bad," said Cloette Amato, a counselor for the past 17 years at Apartment Finders International in Denver.

 $58M paid for Waterford Place apartments in Woodinville Grosvenor Americas said Tuesday that it acquired Waterford Place, a 360-unit apartment property in Woodinville. The sales price was just over $58.4 million, according to public records. Colorado-based Archstone sold the 18-acre property at 13305 N.E. 171st St.

 National home prices up 3.8 percent, Colorado up 7.3 percent WASHINGTON — U.S. home prices jumped 3.8 percent in the 12 months ending in July, according to a private real estate data provider. The year-over-year increase was the biggest in six years, further evidence that the housing market is steadily recovering. CoreLogic said Tuesday that home prices also rose 1.3 percent in July from June. That's the fifth straight increase in both the monthly and year-over-year price indexes.

 Colorado's housing market among strongest in U.S. Colorado's housing market stands out as the fifth-strongest in the country, according to the website 24/7 Wall Street. Home prices across the state have increased by an average of 7.3 percent over the past year, putting Colorado between North Dakota (7.1 percent) South Dakota (8.3 percent).

 Housing construction in El Paso County jumps to a 6-yr high in August John Cassiani, president of the Housing and Building Association of Colorado Springs, attributed the industry's improvement to low mortgage rates — now averaging 3.5 percent — and pent-up demand for new homes after an economic downturn that has lasted for nearly five years.