Metro Denver builders not keeping pace with new residents

Metro Denver isn’t issuing enough permits to keep pace with population growth, contributing to higher housing costs a Zillow study shows.

Source: www.denverpost.com

Denver is rapidly becoming one of the least affordable cities for housing in the nation. I have so many clients right now that I cannot get into a home. Not only people moving in from out of state but also renters trying to become homeowners.

Metro Denver renters are spending on average 33.4% of their income on rent while homeowners spend 19.8% of their income on mortgage.

This spring could well be the best time ever to move up to a new home since the demand is still a lot higher for entry level homes and mortgage rates remain historically low.