Local Denver real estate news and stats

The Denver Post 2 Sundays ago had a great story titled, “Colorado homeowners can get the biggest bang for their home-improvement buck with these projects.”   According to HomeAdvisor the average homeowner spent $6,649 in home improvements from March 2017 to March 2018, an increase of nearly $1500 from the previous year. Second, Millennials completed…

WalletHub released a BIG report on the best cities to buy real estate in. The states of Colorado and Washington dominated their lists. How was this determined? WalletHub compared 300 cities across two key dimensions, “Real-Estate Market” and “Affordability & Economic Environment.” Then they evaluated those dimensions using 22 relevant metrics with 80% of the…

In downtown Denver builders are building too many new Class A apartments, thus rent concessions are increasing or actual rent amounts are decreasing in submarkets like Cherry Creek and the Golden Triangle. Charlie Williams, a Senior VP at KeyBank said, it may take 18 months instead of 14 months to fill a building, but it…

According to Trulia nearly 60% of Denver senior households (aged 65+) that own a house has no younger generations living with them and on average have 2 extra bedrooms in their home. Trulia calls these households “downsizable”. Why are they not downsizing then? One reason is 19% of them are still working, up from 16%…

Florida International University’s College of Business just released a report that said 16 of 23 major cities in the country are now a better place to rent than to buy. Why? They believe that renting and reinvesting the money not spent on ownership will outperform owning and building equity in terms of wealth creation.  …

I attended a BIG residential and commercial land conference on the 23rd and here is a sample of what I learned— In the vacant land market the #1 question is “how high can prices go?” Still demand exceeds supply and on great pieces of land the seller will receive multiple offers. In the last 12…

The U.S. Census Bureau tells us that over the 10 years from 6/30/07 to 6/30/17, the number of “renter” households in the USA increased by 8.4 million to 43.4 million while the number of “owner” households increased by just 0.9 million to 76.1 million. According to Zillow 50% of the residents of the City of…

According to CoreLogic the mortgage delinquency rates in CO for the month of May are as follows— 30 days or more late dropped to 1.8% this year from 2.1% last year. 90 days or more late dropped to 0.5% this year from 0.7% last year. Foreclosure rate is 0.1% down from 0.2% last year.  …

I read last week from James RE Services that developers are currently building 25,700 new apartment units across metro Denver and another 27k are proposed to be built years further out. These 25k units will be completed over the next 2 years. Since 2013 developers have been pulling at least 10,000 permits a year every…

The U.S. Census Bureau tells us that over the 10 years from 6/30/07 to 6/30/17, the number of “renter” households in the USA increased by 8.4 million to 43.4 million while the number of “owner” households increased by just 0.9 million to 76.1 million. According to Zillow 50% of the residents of the City of…