Residential Construction Remains Strong in Denver

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Condo starts are at their highest level since 2007.

Multifamily Executive (January 13, 2020) — In the Mile High City, residential building continues to hit new peaks, with high annual job growth and a low unemployment rate. Several multifamily builders have continued to focus on the area’s urban core, while others have spread to a handful of suburban locations.

Denver-based employers have added an estimated 29,200 jobs over the last year ending in September, down from 36,600 the previous year, for a 1.7% annual growth rate, according to Metrostudy. But although the job growth has slowed compared with a few years ago, announcements for business relocations and expansions, including retail giant Amazon’s announcement to expand its Denver Tech Hub with a new office downtown, continue at a steady pace. As a result, the city’s job base remains strong across sectors, especially in tech­nology, finance, manufacturing, and energy, and the unemployment rate remains low at 2.6%, down from 3.3% in August 2018.

Read more at: Multifamily Executive

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