Colorado is getting ready to sell homes for sale
The state’s real estate market is in a bit of a funk.
The Colorado Real Estate Association reported in March that sales fell 8.9% from April to May.
But according to a new report from the Colorado Bureau of Real Estate, that number is still expected to drop further in 2018.
The report, released Monday, notes that sales are expected to fall in the second quarter, after rising 8.5% in the first three months of 2017.
Colorado is currently on pace to sell 1,000 homes a month, the report says.
That’s down from 1,400 a month in the fourth quarter of 2016.
But sales in 2018 are forecast to be higher.
The state is looking for buyers who want to live in their new homes, but don’t want to sell.
And they want to keep their existing homes.
And it’s not like we’re going to let people sell those homes.
They’ve got to be able to keep them for a certain length of time, and they can’t be sold for a price that is going to go down.
This is going not to be a one-time thing.
We’re going see a lot more sales in the coming years.
This report says that sales of homes in Colorado will fall from 6,000 in the third quarter of 2017 to 4,000 this quarter.
That would mark a 20% drop.
That is the third straight quarter of sales decline in Colorado, which is the first time that has happened since at least 2008.
In addition, the real estate association says that demand for new homes is down in Colorado due to a decrease in new listings.
The real estate industry is hoping that the shortage of new homes will help drive sales of existing homes, the AP reports.
But the Colorado Real House Association says that won’t be the case.
The association says it expects to see a “significant” decline in sales, but the association is working with buyers and sellers to help them sell their homes.
“The industry is struggling to get people to buy new homes,” said Kevin Hays, a senior vice president at the association.
The Association says it’s trying to increase the number of properties in the market by more than 20%.
That could include the sale of a home for $250,000 or a house for $500,000.
Hays says that could help boost the number in the next year or two.
But he says there’s still a lot of work to do.
“There’s a huge shortage of affordable housing.
We know it’s going to get worse.
We just have to get it back to where it was before.”