Thursday, November 10, 2011
Denver Ranked as one of the nation's Healthiest Housing Markets
According to an article released from Builder Magazine, Friday November 4, 2011
Denver ranked 10 out of the 20 healthiest housing markets. Twice a year Builder magazine works with Hanley Wood Market Intelligence to put together a list based on forward projections for each areas jobs, price appreciation, population growth, and income growth. The projections come from Moody’s Economy.com.
Weakness in the oil and gas sector of the economy have caused markets that topped the list before to slip down or off the list and to be replaced by unexpected markets that have overcome job losses and foreclosures. Moody’s projects that permit activity in some of these hottest markets may double as the housing recovery sets in. Markets with military spending, major universities, and strong private sector employment are at the top of the list.
Denver comes in at a strong 10 out of all the cities in the nation. The article goes on to explain how housing recovery is booming in Denver and our permit activity is expected to almost double in 2012 and multifamily construction is on the rise in Denver as well as vacancy rates in downtown apartments have reached below 3 percent. It is also mentioned that Chase Bank, PricewaterhouseCoopers, and New York Life all recently announced new hiring plans here.
It is great to live in Denver now but it seems the future is only brighter for Denver residents. 2011 Total building permit forecast is 3,801 to be topped by 2012 total building permit forecast of 7,548!
Check out the Builders Magazine Article: http://www.builderonline.com/local-markets/heathiest-housing-markets-mid-2011-update.aspx