A group of real estate investors were recently visiting to learn more about the real estate market that is being discussed from coast to coast.
The list of reasons why the downtown Denver real estate market is so popular continues to grow. From a local’s perspective it is easy to understand. Denver offers one of the best climates of any city with over 300 days of sunshine and four seasons to enjoy.
The list continues to include the hundreds of restaurants, the new transportation network, the miles of biking and hiking trails, and of course our great urban plan with beautiful Denver lofts and condos.
Now the most recent news from the Denver Business Journal reported that Denver is also in the top 5 markets for hiring.
Many investors consider employment the single most important local factor driving housing demand. Employment enables home ownership. Communities with low unemployment are adding jobs that create strong demand for both home purchases and rentals. Local workers can afford to switch from renting to homeownership. Newcomers are attracted by employment opportunities, and they need housing, which strengthens demand and improves prices. Better prices encourage Local residents to sell their homes and buy new ones, which creates even more demand.
Every month the Bureau of Labor Statistics issues unemployment rates for every metropolitan area in the nation. Looking at how your community stacks up against others across the country can be one factor when considering the market strength.
Denver’s growing employment base and the hiring of new workers is driving some of the growth we are seeing across the downtown Denver loft and condo markets.
Positive job growth isn’t just helping the housing market. It is also driving the creation of new restaurants, shops and amenities. Walking through the Lower Highlands (LoHi) neighborhood one can easily see the growth of this great hip and popular neighborhood.