Whether you’re a home owner wanting to understand how your biggest investment is doing, a renter thinking about taking the plunge into home ownership, or a real estate investor looking for your next opportunity, understanding the marke ...
- Population of Colorado is 5.2 MM and Denver metro is around 2.5 MM (depends who you ask and how you measure) - Overall, net growth on slide one is around 80,000 people per year, or 1.5% net population growth for state
- Most of the growth (not illustrated on this chart) is in Denver metro; annual net growth around 2%
- SO WHAT? homes
o 2% growth on 2.5MM people = 50,000 new people (source: Census Bureau, Denver Chamber of Commerce)
o About 65% of them own, or 32,500. (source: NAR)
o 2.6 people per HH. That’s 12,500 new homes and condos that need to be built each year just to keep up with organic population growth.
Every quarter we are proud to bring to you the latest Denver Metro Price Change Map which you will find inside this issue. This tool is created and developed by Your Castle Real Estate to give you a clear sense of the current real estate trends in each neighborhood in Denver Metro. For the first time ...
Existing-home sales increased in July to their highest annual pace of the year, and the ongoing decline in distressed sales reached an important milestone, according to the National Association of Realtors. Total existing-home sales, which are completed transactions, rose 2.4 percent to a seasonally adjusted annual rate of 5.15 million in July from a slight downwardly-revised 5.03 million in June. Sales are at the highest pace of 2014 and have risen four consecutive months, but remain 4.3 percent below the 5.38 million-unit level from last July, which was the peak of 2013. Lawrence Yun, NAR chief economist, says sales momentum is slowly building behind stronger job growth and improving inventory conditions. “The number of houses for sale is higher than a year ago and tamer price increases are giving prospective buyers less hesitation about entering the market,” he said. “More people are buying homes compared to earlier in the year and this trend should conti ...
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