Positive economic factors in Denver bring good news
Denver residents looking for indication of a strengthening economic market may wish to turn their eye to increased buying in the housing and auto industries and new job growth in the greater metro area. Houses for sale in Denver offer residents access to a metro area undergoing positive transformation.
Here are three characteristic of Denver’s improving economic market:
Increased auto sales
According to a report by the Colorado Automobile Dealers Association, new-car registrations within the Denver metro area increased 29 percent in April 2012 compared to the same time last year.
This followed a 26 percent increase in March 2012 on a year-over-year comparison. In addition, 2011 had already shaped up as a positive year with a 15.5 percent increase in full-year registrations over the previous year.
"It looks like the Colorado auto industry may be on track for its best year since 2007," CADA President Tim Jackson said in a statement according to the news source. "We’re seeing the combination of growing consumer confidence, affordable and more accessible financing, popular new models and consumers whose cars and trucks are just getting old - all contributing to this high demand."
New job opportunities
The proposed $824 million Gaylord Entertainment Co. hotel and conference center in Aurora received approval for partial funding by the Regional Tourism Act. The complex is expected to include 1,500 rooms and require hundreds of employees to operate efficiently if the project is completed as originally outlined, reports the Denver Business Journal.
In addition to the new hotel and conference center, the Colorado Economic Development Commission is offering tax incentives to IHS Inc. if the organization agrees to locate a new development in Denver that could bring 185 high-paying jobs to the area. The deal is worth approximately $1.6 million.
Improved housing numbers
In addition to new auto registrations and jobs, houses for sale in Denver are attaining higher asking values. According to ALTOSResearch, the median single-family home price in Denver was $252,192 as of May 20, 2012. In addition to increased sales prices, the average property sold in Denver as of that same time period was on the market for approximately 144 days - down from previous weeks. Residents considering a move may wish to search the MLS listings in Denver for a property that fits their needs.