Millennials

U.S. Real Estate News Recap: April 2021

Here’s a quick digest of what happened in U.S. real estate last month:

+ Many older millennials are burdened by housing costs, and it could keep them from reaching other financial goals.

+ What are the secret economic forces fueling the housing shortage? Inman’s Jim Dalyrymple II says increasingly expensive building supplies (think lumber, steel, and even paint) are driving up the cost of housing. Meanwhile, institutional investors are gobbling up to 20-30% of homes for sale, which is affecting inventory.

+ As ADUs or “granny flats” continue to grow in popularity, here are 4 hidden costs of accessory dwelling units that you should plan for.

+ Looking to sell soon? Find out the one thing you should never do to your yard before selling your house. Bonus: it’ll save you some cash!

 

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Denver Real Estate News Recap: January 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ 56% of economists think the Denver housing market will outperform the national average this year, hoisting our city to one of the top five hottest markets for 2021.

+ Some local economists believe the Denver housing market is running out of gas. They said, “while new home sales should match the pace of 2020, existing-home sales this year will fall and price increases in the months ahead will be more subdued.”

+ Our opinion? 2021 is likely going to be a fast-paced, appreciating market on all fronts.

+ Denver is the third hottest market for millennial homebuyers, ranking behind only San Jose and Boston. A whopping 59% of all Denver-area homebuyers in 2020 were from Gen Y.

 

 

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The Hottest Denver Neighborhoods for Millennials

Source: Niche

Niche scoured through heaps of data to rank the best places for Millennials in Denver (and across the country). They looked for neighborhoods with a high percentage of young adults, college grads, access to coffee shops, bars, and restaurants, cost of living, and more.

Here are their rankings of the 10 hottest Denver neighborhoods for Millennials, a ballpark of what it’s going to cost you to live there, and the ease of getting around:

As people migrate back to city centers, it’s no surprise that all top 10 neighborhoods for Millennials on Niche’s list have an urban feel with high walk scores. The bigger question is: are these neighborhoods still affordable for the majority of Millennials or will many of them be priced out of the market?

Check out Niche’s site for a complete list of rankings and the details on their methodology.

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Rental rates based on March 2018 numbers detailed in our first quarter rental market breakdown. Medial home prices based on 2017 prices complied in our semi-annual neighborhood stats.