The stats continue to pour in favouring Colorado as home to one of the hottest housing markets.
Rents are on the rise in the Centennial State, with its average price coming in 6.2% higher, year-over-year in January.
The two priciest cities are Boulder, with an average rent of $1,900, and Denver, which has an average rate of $1,740.
These upticks in rent will likely entice originator investor clients to show renewed interest across the state – especially, perhaps, in Denver.
Denver was recently named the hottest market for 2016 by Zillow, which evaluated homes based on value appreciation, low unemployment rates, and strong income growth.
The honor came as no surprise to area originators.
“There are a lot of start-ups here and a lot of job opportunities; it could be the home of the next Google, AirBnB, or Uber,” Brian Quigley, a Denver-based originator with The Mortgage Network, told Mortgage Professional America in mid-January. “There is a great quality life with us being right next to the mountains.”
This seemingly unstoppable housing market may soon see an influx of investors looking for originator business.