Denver poised for increase in baby boomer home sales

home2Denver is already a prime place for retirement, and now the National Association of Realtors says that the area is among the 10 most likely to see an influx of baby boomers buying homes. NAR researched 100 metro areas nationwide with lower state taxes, strong job markets and strong in-migration patterns for baby boomers to determine that Denver will be one of the most popular markets for homebuying baby boomers.
Read article – Denver Business Journal

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Denver tops list of U.S. cities where homes sell quickly

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In April, the average home sold after only 86 days on the market, according to Realtor.com.  Homes in Denver, however, sold after just 25 days, on average.  “There’s just not enough homes on the market to meet demand in the Mile High City,” Time Magazine reported.  “Listings shrunk 13% in April over the same month last year.”
Read article – TheDenverChannel.com

Denver 12th for population growth

Denver-2Denver gained an estimated 14,953 residents in the year ending last July 1, the 12th-greatest gain among U.S. cities over that period, according to the U.S. Census Bureau. The city had an estimated population of 649,495 last July. Denver’s population grew 8.2% between 2010 and 2013. Since 2000, Denver has grown 17.3%. Denver as of 2013 was the nation’s 22nd largest city, up one position from the year before because slow-growing Boston slipped behind it.
Read article – Denver Business Journal

Denver’s Cherry Creek North realizing development boom

Cherry Creek North is seeing its biggest construction boom in decades, fueled by developers offering a live-work-play experience.  The “play” part of the equation Cherry Creek has already mastered. Restaurants and boutiques proliferate.  But the new development will round out the portfolio with an infusion of residences and office space.  Five major projects are under construction or in advanced planning stages for the area just north and east of the Cherry Creek shopping center. More are in the pipeline.
Read article – Denver Post

Apartment rents in metro Denver continue to climb

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Apartment rents in metro Denver continued their rapid climb in the third quarter of 2013, with an average monthly rent of $1,048 – an increase of 6.3%, or $62, from third-quarter of 2012.  The rise in rent occurred despite the fact that slightly more apartments were available.  The metro vacancy rate rose to 4.4% during the third quarter of 2013 – up from 2012’s third-quarter rate of 4.3%.
Read article – Denver Post

Metro Denver sees big jump in homes listed for sale

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Metro Denver had the biggest percentage increase in new listings of homes for sale of any major metro area last month.  The Denver area had 10,382 new listings come to market between June 16 and July 15 – a 26% increase from the number of new listings that hit the market during the same period in 2012.  Buyers, however, appear to be absorbing the new supply.  Inventories, while up from the spring, remain tight compared with historical averages.
Read article – Denver Post 

Colorado economic growth exceeds expectations in year’s 1st half

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Colorado added about 52,400 jobs from May 2012 to May 2013.  This puts the state on track to have a higher-than-expected 2.5% job growth rate this year.  Every industry except natural resources and mining, information and financial activities is recording year-over-year employment growth.  The value of single-family residential construction is up nearly 41% and multifamily construction has climbed more than 72% through May 2013.
Read article – Denver Business Journal 

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