How’s the market you ask… Which market are you interested in?
Every market has its submarkets, and real estate has plenty: new and resale single-family attached and detached; for sale and for lease office, industrial and retail space; residential rentals: residential and commercial land, etc. And all of these have multiple other categories within them. Usually when one submarket is struggling, others are offering investment opportunities too good to pass up.
The residential rental market is hot in Northern Colorado right now. Colorado Apartment Insights LLC’s 3Q statistics show a vacancy rate of 5.15% for all of Northern Colorado, with the rate going as low as 3.69% in Loveland. The following factors also make it a prime time to invest in residential rental property:
· Changes in lending practices making it more difficult for some people to buy homes;· Apartment construction is down;· Job growth is up;· Echo boomers are coming of age to form their own households;· The supply of homes for sale is shrinking;· Vacancy rates are decreasing and rents are increasing