The Daily Dirt - How's the Market? News from the Mile High Home Hunter (Pt. 3)

Occupancy Is at Record and Near-Record Highs in Denver

Lastly, occupancy of rental units is running at historic highs.

As I was quoted in the Denver Business Journal, many of you are starting to invest in real estate. First time investors are starting to jump into the market. With a near perfect storm of low interest rates, high demand, fewer new homes coming online, and the strong local economy, Denver is becoming starved for rental housing.  Here's what some of my very own clients are doing. (Click here to see the Denver Business Story.)   

Additionally, apartment rents are going up and there are increasingly higher rental standards. 

Why? Demand. 

Landlords can be picky in tight markets, not so much in soft markets. So, several first-time landlords are taking the plunge. They are getting the rents they ask and are getting the better tenants.

(To see more about rents in Denver, see the Denver Business Journal article. In the article, rents increased 1.2% over one quarter, or at a pace of 5% per year.)

In the national map below, the darker the shading of a state, the higher the vacancy rate (or lower the occupancy rate).  Colorado is shown at 10.1% vacancy statewide.  However, many local news stories in the Denver Business Journal and Denver Post speak to occupancy rates of 94% to as high as 98% as noted in the previously noted article

So, as you can even see here on this national map: It's always a great time somewhere to invest in real estate.  (I still like Denver and Colorado.)

So, what do you think?  Do you think it's a great time to buy and sell real estate?  As you can see, now you know why I am always saying it IS a great time to buy and sell real estate.