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
Jay Kalinski | Category: RE/MAX of Boulder | Tagged , , , , , , , , , , , , , , , , , , ,

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
Jay Kalinski | Category: RE/MAX of Boulder | Tagged , , , , , , , , , , , , ,