The Stats Behind the Real Estate Recovery
Nothing happens overnight. After years of struggling with the housing crisis and millions of Americans struggling to stay in their homes, it looks as though we are finally seeing some light at the end of the tunnel. I live and work in Denver so this is the market of my expertise. With boots on the ground here, I’ve seen signs of the housing recovery for the past six months and it just keeps getting better. The Denver real estate market keeps trending upward and the following article from Canyon Title gives you some of the nuts and bolts reasons why that is so.
According to Reis Analytics, expansion and growth continue in the Denver Metro Area. While the recession did not bite as deeply into Denver as into other high-growth economies, the losses inemployment were substantial. But with job creation running positive for about the past two years, a substantial portion of the overall loss has been redeemed. According to preliminary data for April 2012, provided by the U.S. Bureau of Labor Statistics (BLS), non-farm employment was up 2.0% (24,100 jobs) from 12 months prior and was up 3.8% (45,300 jobs) over 24 months.
Additionally, “Metro Denver is repeatedly recognized as a bright spot in the national economy, thanks to our diverse array of high-tech businesses, relatively low cost of doing business, active and highly educated population, and ability to attract and retain a young and vibrant workforce,” said Patty Silverstein, the Metro Denver EDC’s (Economic Development Corporation) chief economist. “Forbes recently ranked Denver fifth on its 2012 list of the ‘Best Places for Business and Careers’ and Colorado ranked eighth on the Enterprising States report list of states expected to grow and prosper in the coming years. Across the nation, others are taking note of the slow and steady-but promising-momentum in Metro Denver.”
If you, or someone you know, is interested in learning more about how TODAY’S real estate market relates to you, please shoot me an email, sign up for the newsletter or give me a call. I’d be glad to go over your options and serve your best interests.