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What Does $200k Buy You?
So, how much home can you buy for $200k in 32 major cities in the U.S. A study was done, by whom I don’t know as that was not reported by the Denver Post, that revealed that $200k in Denver only buys 661 square feet of home, the 10th smallest amount in the country. Only…
Healthiest CO Housing Markets
SmartAsset released their Healthiest Housing Market Index for our state recently. SmartAsset used data from the U.S. Census Bureau’s 2016 5-Year American Community Survey and Zillow. The study considered these 4 factors in creating their index—stability (how long people had lived in their home), affordability as a percentage of income, days on market, and risk…
Denver is Still a Rising Market
JLL Research which researches the apartment community market in every major city just named Denver a Rising Market and not a Peaking Market which means several more years ahead of strong apartment demand and construction will continue to happen. Then, I remembered the DBJ had a story about JLL Research at the end of April.…
Are People Fleeing Denver?
The DBJ had a big story last week titled, “Denver housing prices ‘becoming unaffordable,’ people looking to move out.” The headline made it sound like that people are leaving Denver in droves. So, I had to read the actual report for the facts. Redfin released their “Migration Report” last week with data from the first…
Denver Named a Future-Proof City
Jones Lang LaSalle or JLL, a financial and professional services firm, just created the City Momentum Index which covers 131 major global cities and ranks their prospects for long-term success. Denver was one of 8 U.S. cities that made their Top 30 List of Future-Proof Cities as Denver came in #20. JLL says future-proofed cities…
The Parts of a Home Only Cost This Much?
The NAHB Housing Optimism Index rose to 70 from 68 last month I read that the “parts” cost to the average American new home last year was $80,566. This is about 25% of the sales price of the home. All the other costs are labor, land, and governmental fees. Housing starts in April dropped 3.7%…
Only 15% of College Grads Live with Parents
2018 college grads in Denver will make an average of $53,010 according to executive search firm Korn Ferry, who analyzed salaries of 310k entry-level positions at nearly 1,000 companies in 10 major cities. According to Zillow nationally, 28% of recent college grads in their 20s lived with their parents in 2016, versus 19% who did…
We Have a National Housing Shortage
I watched a webinar from MetroStudy last week with a focus on our national real estate market. Here are some great stats I learned— Nationally we have 138 million homes in our housing supply, but there is demand for 141 million homes. This shortage is expected to increase from 3 million to 5 million by…
Renters Are Sticking Around
Apartment List just released a study on renters who had moved to a new city. In Denver 50.7% of renters moved here because of location and 49.3% moved here for a job. And 45.3% of those surveyed said they plan to live in Denver for the long-term, versus the national average of 35.6% who said…
Colorado Has Many Top Housing Markets
SmartAsset listed last week their Top 10 Housing Markets report based on data from 2012-2016 as they looked at 3 factors. First, is the 5 year difference in population growth and new housing growth, second is the change in home values over those 5 years, and then the change in median household incomes from 2012-2016.…
How Strong is Our Job Market?
One of my favorite weekly reads is from Brian Wesbury at First Trust Portfolios and he shared these stats last week. “Recent figures from the Labor Department show US businesses had a total of 6.550 million job openings in March versus 6.585 million people who were unemployed. That’s a gap of only 35,000 workers. By…
3 Great Denver Jobs Stats
The Denver metro ranks No. 12 on Forbes’ 2018 list of the best cities for jobs. The Mile High City posted 2.3% job growth in 2017. We now have 1.47 million people working in jobs. Currently metro Denver has 5,760 job postings for jobs with salaries > $100k according to Ladders, a career website for high-paying…
