Happy Friday! The CU Boulder Leeds School of Business recently released an economic outlook for Colorado and there are some interesting statistics to be aware of! We will make this quick, painless and hopefully informative!

Many people ask us... “How is the housing market in our area?” and “What do you see in the future of our housing market?” A big part of that conversation always involves employment. The strength of the housing market is directly correlated to employment strength. Simply put, people have to have jobs to be able to buy a house.

Mortgage lenders, banking institutions will not lend money to people who do not have income. There are a whole host of other factors that play into the housing market (interest rates, cost of living, etc) but employment is a foundational necessity.

Great news for the Northern Colorado real estate market, our area has the lowest unemployment rates in the state. Woop woop!

Here’s the breakdown of the numbers from June 2019…

Colorado’s unemployment rate remained low at 3%
Fort Collins-Loveland and Boulder had the lowest unemployment rates in the state at 2.3% and Greeley is next at 2.5%
Denver-Aurora-Lakewood is at 2.7%
Colorado Springs and Grand Junction came in at 3.3%
Pueblo had the highest unemployment rate in Colorado at 4.1%

Northern Colorado remains a great place for people to be employed, own a home, invest in real estate and overall, have a great quality of life to enjoy here in our beautiful state!

If you have any questions regarding your opportunities in our real estate market - give us a call!

Source: Wobbekind, Richard. “Colorado Midyear Economic Update.” Colorado Business Review www.colorado.edu/business/sites/default/files/attached-files/cbr_2019_midyear_issue.pdf. Accessed 4 October 2019.