High-Skilled Workers Move to Denver More than Any U.S. City

More highly skilled workers are moving to Denver than any other U.S. city, according to a new study by JLL Research.

The number of 25-year-olds and older with a bachelor’s degree or higher increased in Denver by 22.5 percent from 2012-2016, leading the nation’s growth rate for that demographic, reports JLL based on analysis of U.S. Census Bureau estimates.

Among cities ranked, Denver took No. 1 followed by Washington, D.C. at 19.9 percent; Philadelphia, 19.7 percent; Boston, 19.1 percent; Portland, 18.4 percent; and Fort Worth, 17.9 percent.

Here’s a look at the top 10 cities for worker growth rate in that demographic:

Cities emerged as the residential location of choice, JLL Research says but “not all cities were created equal in their ability to attract talent.”

Denver led the pack bolstered by high wages and low unemployment. Even with the influx of workers, Colorado’s unemployment rate is at a historic low, clocking in at 3 percent, according to Colorado Department of Labor and Statistics March 2018 data.

In 2017, our state boasted the lowest unemployment in the nation at 2.3 percent, which is the lowest the state has seen since data were recorded in 1976, reports the CU Leeds Business Research Division at CU-Boulder.

CU Leeds School reports cities across the state with the lowest unemployment rates:

–          Fort Collins-Loveland, 2.1 percent

–          Boulder, 2.3 percent

–          Greeley, 2.5 percent

–          Denver-Aurora-Broomfield, 2.5 percent

Unemployment in the U.S. is 4.1 percent, with unemployment for those holding a bachelor’s degree or higher is roughly 2.1 percent nationwide.

“In a full employment economy, talent becomes increasingly difficult to attract as competition for available workers increases. As a function of demand for talent outstripping supply, wages naturally rise as employers offer higher compensation to compete,” reports JLL Research.

See the full list of cities at http://www.jll.com/philadelphia/en-us/research/snapshots/839/philadelphia-4-9-18-war-for-talent

Read more on the CU Leeds Economic Report at http://www.boulderco.com/blog/colorado-outperforms-us-economy-state-outlook-strong.html

Posted by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, May 29th, 2018 at 11:07am.

Posted on May 29, 2018 at 9:48 pm
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Four Colorado Metros Where Home Sellers Gain Most

As home values continue to rise in Colorado, it’s clear that home sellers are benefitting, with four state metro’s making the top 15 of 24/7 Wall St.’s list of cities where people made the most money on home sales.

Boulder ranked No. 8 on the list with Denver, Fort Collins, and Greeley coming in seventh, eleventh and fifteenth, respectively.

According to 24/7 Wall St., Boulder’s average home price gain since last purchase is 56.4 percent or $176,750, compared with Denver’s slightly higher 56.6 percent which translates to $133,700; Fort Collins’ gain of 54.6 percent or $121,850 and Greeley’s 52.6 percent or $107,748.

Top-ranked California metro San Jose-Sunnyvale-Santa Clara had an average home price gain of 77 percent or$415,500.

Metro areas like Denver, Nashville, and Austin are “historically steady-Eddie appreciation markets in middle America that have transformed into boomtowns during this particular up economic cycle,” Senior Vice President of Attom Data Solutions Daren Blomquist tells 24/7 Wall St.

The top five and half of the top 20 metro areas with largest home sales gain are West Coast markets, which Blomquist notes were “the last to get hit by the housing crisis and the first to recover.”

Here’s a look at the full data on Colorado cities, as reported by 24/7 Wall St.:

No. 7 – Denver-Aurora-Lakewood
Average home price gain since last purchase: +56.6% (+$133,700)
Average home sale (2017): $453,012
Best historical time to sell: 2017 (+56.6% price chg. since last purchase)
Worst historical time to sell: 2011 (-3.6% price chg. since last purchase)
Average outstanding home loan: $316,904
Median household income: $71,926

No. 8 – Boulder
Average home price gain since last purchase: +56.4% (+$176,750)
Average home sale (2017): $645,424
Best historical time to sell: 2000 (+72.6% price chg. since last purchase)
Worst historical time to sell: 2003 (-0.4% price chg. since last purchase)
Average outstanding home loan: $377,262
Median household income: $74,615

No. 11 – Fort Collins
Average home price gain since last purchase: +54.6% (+$121,850)
Average home sale (2017): $530,051
Best historical time to sell: 2017 (+54.6% price chg. since last purchase)
Worst historical time to sell: 2010 (4.9% price chg. since last purchase)
Average outstanding home loan: $281,579
Median household income: $66,469

No. 15 – Greeley
Average home price gain since last purchase: +52.6% (+$107,748)
Average home sale (2017): $327,100
Best historical time to sell: 2000 (+239.7% price chg. since last purchase)
Worst historical time to sell: 2011 (-6.0% price chg. since last purchase)
Average outstanding home loan: $334,061
Median household income: $63,400

Methodology

To identify the cities where people make the most on home sales, 24/7 Wall St. reviewed home price gains in metropolitan statistical areas of 200,000 people or more provided by Attom Data Solutions. The real estate data clearing house considered the 150 large MSAs with at least 18 years of home sales and price data. Attom determined for each year the median sales price of all single family homes and condos that sold that year and subtracted it from the median sales price of those same properties the last time they sold. To calculate the percentage gain, the median dollar gain was calculated as a percent of the previous median purchase price.

For the full report visit https://247wallst.com/special-report/2018/03/02/cities-where-people-make-the-most-on-home-sales

Posted by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, May 22nd, 2018 at 2:31pm.

Posted on May 28, 2018 at 4:05 pm
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Denver International Named Top Airport in America

Denver International Airport ranked No. 1 in the U.S, reports international air transport researchers at Skytrax in the 2018 annual airport awards.

In a separate Skytrax ranking of regional airports by continent, Denver is the No. 1 airport in North America and No. 5 regional airport in the world.

More than 13 million international air travelers around the world surveyed for the awards voted Singapore Changi the top airport in the world for the third year in a row. Denver – ranking 29th in the world – claimed the top ranking spot for U.S. airports. Denver is followed by No. 34 Cincinnati, No. 48 Houston International, and Nos. 50 and 51 Atlanta and San Francisco, respectively.

Travelers were surveyed from August 2017 to February 2018, covering 550 airports worldwide and evaluating traveler experiences including check-in, arrivals, transfers, shopping, security, and immigration through to departure at the gate.

But that’s not all. In a separate airport satisfaction survey conducted by J.D. Power Ratings in 2017, DIA pulled a score of 763 out of 1,000, ranking fourth. Orlando International Airport ranks highest in satisfaction among mega airports, with a score of 778. Detroit Metropolitan Wayne County Airport (767) ranks second, and McCarran International Airport and Phoenix Sky Harbor International Airport (765) tied for third.

The survey found overall passenger satisfaction with North American airports has reached an all-time high.

“Capacity has become a huge challenge for North American airports, with many reporting 100% of available parking spots being filled and large airports, such as Orlando International, setting passenger volume records each month for more than three years straight,” said Michael Taylor, Travel Practice Lead at J.D. Power. “Despite these difficulties, airports are responding with new technology and old-fashioned personal skills to win over harried travelers. These range from smartphone apps that tell travelers where to find a parking spot to therapy dogs—and in one case, a therapy pig—mingling with travelers to relieve stress and improve the overall airport experience.”

Nearly every U.S. airport – faced with high passenger capacity and ongoing construction projects to address increased demand – is using technology to help address these issues. Sacramento International Airport developed a smartphone app that tells travelers where to find a parking spot, and airports nationwide have invested heavily in improving phone-charging stations and internet access in their terminals.

The J.D. Powers study, now in its 12th year, measures overall traveler satisfaction by examining six factors: terminal facilities; airport accessibility; security check; baggage claim; check-in/baggage check; food, beverage and retail. It is based on responses from 34,695 North American travelers who traveled through at least one domestic airport with both departure and arrival experiences during the past three months.

For more on the Skytrax Awards see: http://www.worldairportawards.com/Awards/world_airport_rating.html and http://www.worldairportawards.com/Awards/worlds_best_regional_airports.html

For the full J.D. Power ratings see: http://www.jdpower.com/press-releases/jd-power-2017-north-america-airport-satisfaction-study

Posted by Tom Kalinski Founder RE/MAX of Boulder on Monday, May 14th, 2018 at 2:49pm.

Posted on May 22, 2018 at 5:47 pm
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Boulder Selected Finalist in Bloomberg Mayors Challenge

Boulder is readying to change the paradigm of transportation mobility as a result of being named one of 35 Champion Cities selected as finalists in the 2018 U.S. Mayors Challenge. The competition is based on city leaders proposing bold solutions to each city’s toughest problems.

Three Colorado cities – Boulder, Denver and Fort Collins – were selected from a pool of more than 320 applicants. Selected cities now begin a six-month testing phase supported by a grant award of up to $100,000 for each to conduct a public prototype.

In Boulder’s application, the city proposed to combat climate change through accessible and affordable transportation alternatives for low- and middle-income residents.  City officials will conduct experiments on mobility options – including ridesharing, subsidies, and an electric car loan program – to determine the most effective way to improve low-income residents’ mobility.

Currently, more than half of Boulder’s low- and middle-income residents depend on fossil-fuel, single-occupancy vehicles.

Denver will use cutting-edge air pollution sensors to create a city-wide air quality monitoring program at public school buildings to make better informed decisions on policies. The city aims to address the negative economic and health impact of air pollution. Denver families spend an average $3,100 a year on asthma-related medical costs.

Fort Collins will make more energy efficient rental housing for low and middle-income households to reduce health and economic disparities. Nearly 50,000 Fort Collins households are energy-inefficient.

“We received hundreds of bold and creative ideas from cities around the country in response to the 2018 Mayors Challenge, and these 35 really stood out for their potential to improve people’s lives. The next six months are a great opportunity for the cities to test their ideas and make them even more innovative and effective,” said Michael R. Bloomberg, founder of Bloomberg Philanthropies and three-term Mayor of New York City.

During the six-month “Test, Learn, and Adapt” phase of the competition, Boulder and the other Champion Cities will refine their ideas, and then submit new applications in August. In October, five selected cities will be awarded funding to put their ideas into action – four will receive $1 million and one will receive $5 million.

Bloomberg Philanthropies works in over 120 countries around the world to ensure better, longer lives for the greatest number of people.  In 2016, Bloomberg Philanthropies distributed $600 million.

For more information and a list of all 35 Champion Cities, visit mayorschallenge.bloomberg.org

Posted by Tom Kalinski Founder RE/MAX of Boulder on Monday, March 19th, 2018 at 9:37am.

Posted on March 22, 2018 at 4:35 pm
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