One sector of the real estate market that is not suffering is the multi-family sector. Apartment owners are enjoying the benefits of having nearly all of their units rented. It’s even considered a “sellers market” for apartments according to some brokers. A report by the Colorado Division of Housing reported that overall vacancy rates fell to 5.5 percent in the first quarter of 2011, and rental rates have risen accordingly. Experts expect this trend to be in place for a while as people that have poor credit due to the housing slump are unable to buy. Those that can afford to buy are generally taking advantage of good interest rates and finding a way to qualify for a loan. As apartment vacancies increase, it may be an indicator that people are able to save their money for a downpayment and are buying homes again.
For more information call Todd Groth at 720.203.9624 or look us up online at www.BevGrothProperties.com