Vacancies remain at a 10 year low and rent prices are still rising in the Denver metro area.  "This is the second-lowest vacancy rate we've seen in any quarter since 2001." said DU assistant professor of business, Ron Throupe.

The vacancy rate is 4.9 percent, down from 5.3 percent from the third quarter in 2010. "Denver County posted the biggest year-over-year increase in median rent, from $809 last year to $853 this year.  Rent was highest in downtown Denver." Reported the Denver Business Journal.

Ryan McMaken from the Colorado Division of Housing said that Denver is "seeing a sustained and real rental growth." Rents in metro Denver, have remained relatively the same for the last 10 years.

Speculative construction on new apartment buildings has begun and the association, Apartment Realty Advisors expects 8,000 units to be built by 2013. "Especially downtown, near the Denver Tech Center, next to light rail and commuter stations and along the US 36 corridor." Reported the DBJ.

Investors are flocking to Denver, buying apartment buildings and building new ones.

Read the full story at The Denver Business Journal.

photo credit: Indiana Public Media

Posted in Buyer Resources, Real Estate Trends, Real Estate Market Conditions

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