NAR Report Highlights Denver Housing ShortageOctober 19, 2016
A new report from the National Association of Realtors includes Denver on a list of the U.S. cities suffering from the biggest housing shortages. According to the report, more than 67,000 single family homes would have to be built in Denver just to return inventories to historically normal levels. Comparing that figure to the August housing inventory of 7,327 units reported by the Denver Metro Association of Realtors, it’s clear that such a large imbalance will not be resolved quickly.
As noted in the Denver Business Journal , the area’s strong job market is a major contributor to this phenomenon, luring new residents who put additional demand on the already tight supply of housing. Needless to say, the single family rental options that GCG provides in the Denver market are the best alternative to homeownership for families and are likely to experience continued rent growth in the years to come.