According to a recent Denver Post report, Denver and Colorado Springs are among the metro areas recovering the fastest from the economic recession.
Denver was one of six metro areas (out of the 100 surveyed) that outperformed the job creation rate during the 4th quarter, growing 0.8%, according to Mountain Monitor, a report by the Brookings Institution. The report also took other economic indicators into account, including metropolitan product, which was up 4.5% in Denver from its peak in the 4th quarter of 2008.
Another economic indicator Brookings measured was housing prices, but unfortunately, it does not seem that the Denver housing market is a contributing factor to the recovery in Denver. On the contrary, the report claims that the sluggish housing market is slowing the recovery. The report goes on to say that home prices dipped in the 4th quarter, after a brief rise in the 3rd quarter. There is still some positive news, though. According to another article published by the Denver Post, home sales saw a 3.4% rise in February over the previous month.
For more information on Denver’s economy, or regarding Denver real estate, please contact TeamCox Realtors at 303-400-6060.
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