Good Morning Everyone!
Last week, I attended the “54th Annual Colorado Business Economic Outlook” presented by the University of Colorado’s Leeds School of Business. You can download the entire report here.
The 3+ hour program offered something for everyone interested in Colorado’s economic future for 2019. My favorite presentation of the day was by Scott Green. He holds the title “Engineering Site Director, Google Boulder”. Scott told us all about the DNA of software development along the front range over the last couple of generations, but more importantly, he told us about the economic impact of this industry along the front range. In fact, he even mentioned Google has 60 unfilled positions in the Denver/Boulder corridor right now!
After the event was over, and maneuvering my way out of the Central Business District, I began to think about the day. I have had a week to digest all this information. I can give you my opinion now. The Denver Metro Residential Market has not set itself up for “bubble bursting”.
Just look at this week’s numbers below. We are enjoying active participation in all facets.
New Listing (617) This number is fantastic for a holiday season!
Back On Market (166)
Price Increase (74)
Price Decrease (553) Sellers still wanting to get it done this year!
Under Contract (913) Patient buyers making a deal while wrapping presents!
Withdrawn (198) Very few giving up!
Long story short, we have job growth, we have economic expansion, we have “A” type investors seeking Colorado Real Estate, and we have an infrastructure that rivals almost any city our size in the world. In summary, “They’re still coming to Colorado”, but just not in the same numbers as this year or the year before, but still in substantial growth numbers. Almost every segment of Colorado’s Economy is growing. Mining is our lagard. I knew you’d ask…
SO, as we turn the pages on our desk calendars, let’s not forget what got us here. “And to all a good night!”
BUT WAIT, THERE’S MORE! We have a new look! What do you think?