Thursday, May 10, 2012

Housing News Digest, May 10

Demand for apartment rentals uneven in Colorado Demand for apartment rentals was uneven in Colorado with some metro areas seeing year-over-year increases in vacancies in the first quarter of 2012, the Colorado Division of Housing reported today. However, the overall Colorado apartment vacancy rate fell to 5.2 percent in the first quarter of 2012, falling year-over-year in metro Denver, Pueblo and Fort Collins. However, the vacancy rate increased in Colorado Springs, Grand Junction and Greeley.

April foreclosure trends mixed in Colorado urban counties (DBJ) Foreclosure sale represents the point at which the foreclosure process is completed, some months later; not all filings lead to a sale. Since 2008, March and April have tended to be two of the most active months for new foreclosure filings in Colorado, with totals in both filings and auction sales tending to drop off in May.

 Weld foreclosures filings, sales continue to drop (Greeley Trib) Fewer residents are losing their homes to foreclosure in Weld County, mirroring a statewide trend. The Colorado Division of Housing today released its monthly foreclosure report showing local and statewide foreclosures dropping in a traditionally active time for foreclosures.

Slifer report optimistic about real estate market VAIL, Colorado — In the opening letter of the 2011 edition of The Slifer Report, Jim Flaum, president and managing broker at Vail Valley-based Slifer Smith and Frampton Real Estate, said that last year when asked about his view on the Vail Valley's real estate market he used the phrase “cautiously optimistic.” In 2012, Flaum is dropping “cautiously” for the more concise and encouraging “optimistic.” “We expect that the real estate market in 2012 will outperform last year,” Flaum said. “Our first ever quarterly version of The Slifer Report was recently released and the review and information in it shows that 2012 is off to a solid start.”

 Home Prices Are Stabilizing, Signifying A Housing Market Bottom Housing inventory levels have been shrinking across the U.S., leading to bidding wars and modest upward pressure on prices in some areas. At the end of the first quarter, 2.4 million existing homes were up for grabs, nearly 22% less than last year.