Colorado real estate investing
Updated: Jul 26, 2019
Colorado is becoming a hotspot for real estate investors as well as the next trend in the real estate investment world. The real estate market in Colorado has evolved over the years, and it is now gaining both national and international investments as it has witnessed more than $1 billion in the form of foreign investments; this figure does not include local real estate investments. Lots of individuals are taking advantage of this, thus creating a real estate boom in the state of Colorado. Colorado was once regarded as an isolated bubble but not anymore. Some cities in Colorado have even made it on the list of emerging real estate trends.
There are so many factors that have greatly influenced the real estate boom in Colorado over the years. One such reason is the high amount of available jobs that have been the key driving force for the heavy influx of individuals to Colorado. The job boom in Colorado is very visible, as Colorado was previously ranked as the state with the lowest unemployment rate in the entire country and is currently among states with the lowest unemployment rate in the country. Other factors that have also contributed to the Colorado transformation include better health care services and a remarkable educational sector. No wonder the majority of the Colorado population consists of highly educated individuals.
Some factors that investors have considered that have helped increase investments in Colorado’s real estate sector include:
• Growing Job Market: One factor that has been able to attract and continues to attract investment to Colorado is the ever-growing job market. The United States has a national unemployment rate of 3.6%; the figure for the state of Colorado is lesser compared to the national average as the state of Colorado records a 3.2% unemployment rate. The unemployment rose from 3.0% the previous year to 3.2% around the first quarter of 2019. There are lots of great companies in Colorado cutting across various fields such as health, education, and business. These companies have contributed to the population growth and consequently, more investors.
• Popularity Growth: The state of Colorado has continued to grow in popularity over the years. The popularity of Colorado got more publicity as it was ranked among the top 10 moving destinations in the country. For example, after the rating, the state of Colorado witnessed over 70,000 new residents. Also, recent rankings naming some cities in Colorado as the next big thing in the real estate market has continued to increase investors’ interest as return on investment is assured.
• High Real Estate Market: One of the factors that have significantly increased the influx of people to Colorado is the existence of great firms with highly skilled individuals. The fact that these firms employ highly skilled individuals means that most people moving to Colorado can make purchases. Also, the market is favorable for rentals, and AIRBNB is a thriving business due to Colorado being a great tourist destination.
Currently, Colorado continues to remain a hotspot for real estate, and it is a market that would continue to grow for the next couple of years, and the best time to take advantage of Colorado’s real estate boom is now. If you are an investor and want to take advantage of the current real estate market to the fullest, and get the best real estate investment advice, you can contact Top Tier Real Estate at (719) 330-5556.