Category Archives: Denver Economy

Denver Metro Rental Vacancies Fall to 2.6 Percent – September 27, 2011

Posted on September 27, 2011 by Mitch Shannon

According to the latest report from the Colorado Division of Housing, the overall vacancy rate of residential properties in the Denver Metro area has dropped to a historic low of 2.6%, in the second quarter of 2011.  The current vacancy rate of 2.6% is lower than the second quarter of 2010′s vacancy rate of 3.8%.  Additionally, the average days on the market fell from the second quarter of 2010, of 47.2 days, to an average of 15.7 days during the same time period in 2011.  While the rental market continues to tighten, residential rental rates have not yet seen a… Read More »

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Colorado Foreclosure Rate Continues Downward Trend – May 18, 2011

Posted on May 18, 2011 by Mitch Shannon

The foreclosure rate in Colorado contintues to show improvement since the beginning of 2011.  According to the Colorado Division of Housing, both foreclosure filings and foreclosure sales were down, when compared to 2010.  ”In year-to-date comparisons, comparing the first four months of 2010 with the same period of this year, foreclosure filings were down 33.2% and sales at auction were down 18.0%”  While there was a slight increase in filings from March 2011 to April 2011, of approximately 4%, sales at auction fell 11.6% during the same period.  Athough it is still early in the year and several economic factors remain… Read More »

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Positive News from the Leeds Business School – April 6th, 2011

Posted on April 6, 2011 by Mitch Shannon

More positive economic indicators from the University of Colorado Boulder’s Leeds School of Business. On Monday, the business school released their quarterly Leeds Business Confidence Index, or LBCI, which gauges business leaders opinions and confidence about the future outlook of business and the economy. The LBCI index posted its highest score since the 2nd quarter of 2006, with a index score of 56.8. Other individual indexes were showing positives signs for hiring, increase in sales and capital investments. Most importantly, the index continues to move in a positive direction, indicating business leaders continued optimism in the overall economy. For the… Read More »

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More Buyers Sign Contracts in February – March 28, 2011

Posted on March 28, 2011 by Mitch Shannon

The National Association of Realtors reports more buyers wrote contracts to purchase homes in February.  The National Pending Home Sales Index rose 2.1% in February.  Regionally, the index rose 7.0%, in the West, which was 0.6% higher than in February 2010.  According to Lawrence Yun, National Association of Realtors Chief Economist, “Pending home sales have trended up very nicely since bottoming out last June, even with periodic monthly declines.”  June 2010 was the lowest point in the index due to the expiration of the Home Buyer Tax Credit.   Locally, the Metro Denver real estate market remains mixed.  Some metro markets are seeing… Read More »

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Colorado Foreclosures are Down in 2011 – March 23, 2011

Posted on March 23, 2011 by Mitch Shannon

Foreclosure filings and sales at auction are down in 2011, according to a report from the Colorado Division of Housing released last week.  February’s year-over-year comparison between 2010 and 2011 foreclosure filings are down 34.7 percent.  Foreclosure sales, or sales at auction, were also down 19.6 percent.  While some experts believe the large year-over-year drop in February can be attributed to a nationwide slow down of banks and mortgage companies’ foreclosure process, the overall trend is still moving downward.  Most of the Metro Denver counties decreased in the number of foreclosure filings and sales, as well.  Home foreclosures are still… Read More »

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Local Federal Reserve Economist Speaks at Real Estate Summit – March 4, 2011

Posted on March 4, 2011 by Mitch Shannon

Mark Snead, Federal Reserve economist and head of the Federal Reserve Denver Branch, spoke at the Colorado Real Estate and Economic Summit and told the audience he sees the local commercial real estate market improving.  Nationally, the residential market seems to be ”bouncing” along the bottom.  Read more in an article in today’s The Denver Post. The local residential real estate market appears to be at or very near the bottom.  The metro area is seeing an increase inventory, however, the median sold price in January 2011 was $225,000, up almost 7% from last year’s median sold price of $210,000 in January 2010.  Mortgage interest rates remain just below 5%, making homes more… Read More »

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Federal Reserve Chairman Bernanke Sees Positives Signs – February 7, 2011

Posted on February 7, 2011 by Mitch Shannon

Ben Bernanke, Chairman of the Federal Reserve, is seeing positive economic signs.  While our economic recovery is still a slow work in progess, the Stock Market, consumer spending and low mortgage interest rates seem to be showing more strengths than weakness, right now.   Consumer spending was very strong, in the last quarter of 2010, and 2010 reported the best increase in consumer spending, in over three years.  Read more about Ben Bernanke’s commments in The Denver Post.

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Positive news for job growth in Denver

Posted on November 26, 2010 by admin

Good news for creating jobs in the Denver Metro area.  As reported in the Denver Business Journal, several large corporations have been adding hundreds of jobs to their Denver based call centers, over the last year.  Companies have been reversing their trend of off-shore call centers in search of superior customer service and new cost efficiency models. This is great news for our local ecomomy.

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Colorado ranks 10th nationaly in per-capita personal Income

Posted on March 28, 2008 by admin

An interesting article in today’s Denver Post concerning Colorado’s per-capita personal income for 2007.  Frankly, I was (or wasn’t) surprised by the negative headline:  “Colorado income gains among the slowest.”  The headline sounds concerning, but as I read on the over all picture concerning per-capita personal income growth in Colorado is actually pretty good.  Information from the U.S. Bureau of Economic Analysis, Colorado still ranks in the top 10 nationally for per-capita personal income.  According to local economist, Patricia Silverstein, the slow income growth is largely attributed to the increase in population growth.  “We had reasonable job growth. Part of… Read More »

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