Economic Indicators - How is Denver Doing?

Denver is fairing well!

Employment: Colorado’s job growth was 1.6 percent through August 2008,
which is well above the 0.2 percent national average. In Metro Denver 3,800
jobs were added between July and August ( ).

Foreclosures: Foreclosure filings dropped dramatically from July 2008 to
August 2008 in the City and County of Denver, in fact they declined 68.5
percent. According to Patty Silverstein, chief economist for the Metro Denver
Economic Development Corporation, “Metro Denver home sales remain
sluggish and home prices are still below year-ago levels, but foreclosure
activity is slowing noticeably. The local jurisdictions are still reporting
foreclosures, but the market appears to be stabilizing” ( ).

Home sales prices: According to the S&P/Case-Shiller Home Price Indices,
“Dallas and Denver's streaks of 4+ straight positive returning months ended in
August” (www.standardandpoors.com). However prices in Denver did not
change from July to August.

Inventory: Inventory in the Metro Denver area declined 2.9 percent from
August 2008 to September 2008 according to data from Metrolist . In August
24,648 single family residential and condo listings were for sale compared to
the 23,923 listed in September. In September 17.8 percent of listings sold,
while 18.4 percent of listings sold in August 2008.

Population growth: The Colorado population in 2007 was 4,919,858. The
population in 2008 is supposed to be 5,010,395. It is predicted to have a
population of 5,533,971 by 2013. By 2020 it’s predicted to be 6,287,021.
Increased population growth is a positive indication of economic health in
Colorado. According to Metro Denver EDC, “Metro Denver is the nation’s
second-best center for business, says a recent report by business website
MarketWatch. The report ranks the nation’s 50 largest metropolitan areas
based on concentration of company headquarters, unemployment rate,
population growth, and other criteria. Metro Denver placed second overall
behind Minneapolis-St. Paul, and Metro Denver performed particularly well in
the small business rankings” (www.metrodenver.org).