The housing market is still hot in Denver Colorado, but the Rocky Mountains and Denver's geography can be enticing to those who are considering relocating to this exciting city. Geographically, Denver is a beautiful, compact area that is bordered by the foothills of the Rocky Mountains. This means that there are many unique opportunities for recreation and work in the areas surrounding Denver.
First, we need to address the housing market. While some Denver suburbs have consistently lagged the rest of the region's housing market (and indeed the rest of the country as a whole), Denver has consistently outperformed the rest of the country when it comes to new home sales and population growth. This is in large part due to the fact that the Denver region is one of only a few metro areas that has reeled off strong employment growth.
In addition, the city of Denver has maintained its competitive edge thanks to a number of innovations designed to lure the research, technology, and entertainment industries to the area. All of this means that Denver's population continues to rise, but at a steady rate that outstrips the rest of the nation.
Next, let's consider the geographic information presented to prospective residents. As you may know, Denver is located at the junction of three of the most important business corridors in the country: the Denver/Boulder/ Rancho Colorado area, the Golden State/New Denver area, and the Southern Colorado/New area. The combination of these business corridors provides Denver with a number of opportunities for those looking to relocate to a work-friendly city.
One such opportunity is that the city of Denver currently boasts the largest number of jobs of any metropolitan area in the country.
While this is especially true in the case of the highly-productive Colorado Springs, Littleton, and Fort Collins, as well as the outlying communities of Centennial, Littleton, and Denver Country Club, the numbers show a much broader range of population than one might expect. In fact, many areas of Denver experienced a net loss of population. In some cases, that was caused by people relocating to Florida or Arizona for work, but in other areas, like Denver proper, there were people moving back to the area after losing their jobs elsewhere. Therefore, even though the overall population of Denver continues to grow, there are plenty of areas in which the population is on the decline.
With population growth comes the population of those businesses that are located within the Denver area. As we have mentioned previously, Denver is the host to a number of Fortune 500 companies.
These include names such as AT&T, Microsoft, Apple, Continental, Pfizer, Alcoa, Cisco, Time Warner, and Verizon, just to name a few. Because these companies have such a presence within the Denver area, it is not surprising that the housing market is doing as well. In fact, Denver's housing market has been outpacing the rest of the country since the end of the Great Recession.
One of the reasons for Denver's success is that they have so many areas for people to choose from. Some areas are offering attractive home prices and amenities, while others still offer affordable housing and great family values. There is no reason to think that the future of the Denver Colorado real estate market will look any different than it does at this point. Real estate investors have shown that they can successfully capture market share in slow economic times, and they have the experience and know-how to continue to do so. We're hoping that the successful trend continues as the population of Denver continues to grow.
