Apartment vacancies fall, rents rise

Colorado apartment vacancies fell – in one case by more than 40 percent – and rents rose more modestly across the state during the fourth quarter from the fourth quarter of 2009, shows a new report.  The robust market  came despite limited wage and job growth, according to the report released today by the Colorado Division of Housing.

Year-over-year vacancies fell in Denver and five other metropolitan areas measured by the division, including  Fort Collins, Loveland, Greeley, Grand Junction and Colorado Springs.

The largest drop in the vacancy rate was found in Grand Junction where  the rate fell 43 percent to 7.5 percent from 13.2 percent. percent. The vacancy rate fell 35 percent in the Fort Collins/Loveland area and 30 percent in Greeley. The metro Denver vacancy rate, reported last month in a separate survey, also fell year-over-year to 5.5 percent from 7.7 percent, a 28.6 percent drop.

Denver, northern Colorado tight markets

Read More: http://insiderealestatenews.com/2011/02/apartment-vacancies-fall-rents-rise/

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About dherries
Dave and Sally Herries and The RealtyColorado Team - Real Estate Broker serving the metro-Denver area. Offering properties in urban, sub-urban and rural areas. Our mission statement is "Enriching lives through real estate."

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