I read an article in Builder Magazine’s newsletter last week on the impact that Amazon has had on RE in Seattle since 2010. Amazon has added over 40k new direct jobs and over 53k ancillary jobs since 2010 and the average new home price has increased by 83% to $694k and existing home prices have increased by 47% to an average price of $550k.
Amazon estimates that their 2nd Headquarter will add 50k new jobs over the years and the winning city should expect to see many more tech companies choosing to move to the “Winning City”; thus total job growth could be over 100k!
If Denver is the “Winning City” MetroStudy is predicting that our new home prices will rise from $535k to $981k over the next 7 years, an increase of a whopping 83%! And existing home prices would rise 47% from $455k to $666k in 7 years.