Forecasts show the Denver, Colorado area on its way to recovery. Permit activity is expected to nearly double in 2012. One of the reasons for the positive forecast is job growth. The Denver metro area could add 20,000 jobs this year.
Denver addressed early on the foreclosure crisis. There has been a significant decline in new foreclosure filings this year. So, home prices have been pretty stable here even during the terrible housing market over the last couple of years. 2011's median price of $223,100 is only $20,000 below 2006 levels.
Multifamily construction is increasing in Denver. Vacancy rates on downtown apartments are now below 3 percent. For the full article from Inman News...read here.