Living Littleton

    Vacancy rates in Littleton and Metro Denver continue to show improvement, based on the latest report released by the Colorado Division of Housing.  When considering the rates of single family homes, for-rent condos, and other small properties, the vacancy rate for the first quarter had dropped to a two year low of 3.1 percent.  This is compared to a vacancy rate of 3.9 percent in the first quarter of 2009.  Our highest recent vacancy rate occurred in 2005, when it stood at 9.5 percent.  This was a result of people buying homes like crazy so they wouldn’t be priced out of the market.  Many accomplished this by using some of the creative loan products that were available, at that time, and of course we all know how that worked out.
    For those of you that are regular readers of this blog, you may note that last month I commented on how the vacancy rate stood at 6.5%.  Be sure to note, that it was for apartments, only, while the above data excludes apartments.
Jerry Becker
Jerry Becker and Associates – Metro Brokers
jbeckerhomes@comcast.net