Market is Getting Tougher
The Metro area market continues to make it more challenging to buy or rent a property. Many renters we speak with tell the same story. As soon as any available rentals come on the market they are snapped up. The feeding frenzy to live in and around all the great developments such as Union Station Neighborhood, Riverfront Park, LoHi and Lodo is not slowing down, it’s speeding up. Even the new inventory coming online doesn’t seem to be helping.
In this month’s Denver Post Article “Metro Denver’s tight housing market puts a squeeze on rentals” the author highlights one possible cause for this.
Exacerbating the tight inventory is metro Denver’s ongoing popularity with young adults from other states. More people are also moving out on their own as the economy improves and unemployment drops.
That makes sense. With the improvements to the economy those who wanted to relocate are finally able to. Denver has a GREAT reputation for jobs, affordable cost of living, weather, activities, and more. With all those transplants taking up inventory the new housing just can’t be built fast enough.
And that trend is not likely to change anytime soon. Our downtown continues to evolve and draw in more folks and that may keep the flow of new residents moving into downtown on the rise.
So we are finding more and more renters are realizing that they can buy a new home more affordably (and with less of a feeding frenzy) than renting. Sure, the housing market to purchase is moving quickly too, but with the team at DenverUrban at your side we help make sure you can find something that fits your budget and your lifestyle.
Homeowners have an advantage over renters, they know what their costs are. As rents continue to grow today is a great time to ask the question about whether it makes more sense to own. Contact DenverUrban.com today and learn more.
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