Colorado Statewide Housing Research Program Launches

The Colorado Association of REALTORS® (CAR) and the Colorado State University Everitt Real Estate Center (EREC) announced an agreement on Monday to produce residential real estate research for the state of Colorado. With the generous support of CAR, the EREC plans to conduct detailed housing studies for 59 of the 64 total counties across Colorado to ensure real estate professionals and decision-makers have access to reliable and timely analysis of the residential housing markets with the most comprehensive coverage available.

"We are extremely pleased to collaborate with CSU and its prestigious Everitt Real Estate Center to provide a research based tool that will help all parties engaged in real estate transactions make wise decisions," said George Harvey, CAR President.

The research, powered in part by a technology donation from Hewlett Packard, is more detailed than other indices that report home prices for broader metropolitan areas. The study uses Geographic Information Systems (GIS) to select the data in order to evaluate smaller boundaries almost on a neighborhood-by-neighborhood basis.

"In spite of the declines in values across Colorado, home values can vary significantly by neighborhood and even by block, which is why this agreement with CAR is so critical to residents of Colorado," said John Gerhard, director of Residential Research at the Everitt Real Estate Center. "In Northern Colorado, for example, there is still home price appreciation occurring within neighborhoods despite the publicized trends. Our hope is that the relationship with CAR, as well as future collaborations with various Multiple Listing Services around the state, will help us take a more granular analysis of Colorado real estate markets."

The first set of reports is expected to be available by the middle of the year.

Posted on May 11, 2010 11:34:42 by Blog Author