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Mountain West Real Estate Investment Market Report: April 2020

The Value of Hard Money in the Real Estate Investment Industry.

Private (or hard money) lenders are some of the most important funding sources for real estate project investors. Whether you’re new to real estate investing or an expert, chances are you will want to scale your business at some point. And every successful real estate investor knows that, to scale your business, you need one thing: reliable funding.

With the current condition of the market, it’s now more important than ever to make sure that you have a relationship with a hard money lender that you can rely on.

See full article

Market Activity

Denver, CO
Market Overview

Market disruptions due to COVID-19 and geopolitical concerns throughout the world mean a high degree of uncertainty in the economic outlook. Still, current data implies continued expansion for the Denver region. The commercial real estate markets remain steady with low vacancy rates. As for home prices, they’ve held steady year-over-year.

1,224
Homes Sold
$470,000
Avg. Home Price
$1,577
Median Rent
U.S Census Bureau: first quarter 2020
4.5%
Rental Vacancy Rate
0.9%
Homeowner Vacancy Rate
4.5%
State Unemployment Rate
Metro Area Unemployment
Boulder, CO
2.4%
Colorado Springs, CO
3.4%
Denver-Aurora-Lakewood, CO
2.8%
Fort Collins, CO
2.6%
Grand Junction, CO
4.1%
Greeley, CO
2.9%
Pueblo, CO
4.3%

Market Activity

Salt Lake City, UT
Market Overview

For most of Q1 2020 there was continued dynamic growth and activity, yet the quarter ended with uncertainty from COVID-19. The first quarter numbers indicate that office vacancy rates saw an increase year over year from 8.67 percent in 2019 to 9.30 percent currently. The increase is primarily due to the new 202,454 square feet delivered to the market so far this year.

310
Homes Sold
$375,000
Avg. Home Price
$1,155
Median Rent
U.S Census Bureau: first quarter 2020
6.3%
Rental Vacancy Rate
0.6%
Homeowner Vacancy Rate
3.6%
State Unemployment Rate
Metro Area Unemployment
Logan, UT-ID
2.3%
Ogden-Clearfield, UT
2.8%
Provo-Orem, UT
2.5%
Salt Lake City, UT
2.7%
St. George, UT
3.4%

Market Activity

Dallas, TX
Market Overview

Dallas’ office market has been one of the strongest in the US. The strong market continued at the beginning of Q1 as vacancy slightly decreased from 20.1 to 19.7 percent. This was mainly due to the solid absorption of nearly 1.2 million square feet in Q1. According to JLL, construction remains strong. There are currently no large corporate campuses under development, although JPMorgan Chase (540,000 square feet) and Uber (469,000 square feet) have build-to-suits underway.

1,078
Homes Sold
$350,000
Avg. Home Price
$1,183
Median Rent
U.S Census Bureau: first quarter 2020
8.3%
Rental Vacancy Rate
1.5%
Homeowner Vacancy Rate
4.7%
State Unemployment Rate
Metro Area Unemployment
Abilene, TX
3.0%
Amarillo, TX
2.6%
Austin-Round Rock, TX
2.6%
Beaumont-Port Arthur, TX
5.5%
Brownsville-Harlingen, TX
5.8%
College Station-Bryan, TX
2.7%
Corpus Christi, TX
4.4%
Dallas-Fort Worth-Arlington, TX
3.2%
El Paso, TX
3.8%
Houston-Sugar Land, TX
3.9%
Killeen-Temple, TX
3.7%
Laredo, TX
3.9%
Longview, TX
4.1%
Lubbock, TX
2.8%
McAllen-Edinburg-Mission, TX
6.7%
Midland, TX
2.3%
Odessa, TX
3.3%
San Angelo, TX
3.0%
San Antonio-New Braunfels, TX
3.1%
Sherman-Denison, TX
3.2%
Texarkana, TX-AR
4.3%
Tyler, TX
3.5%
Victoria, TX
3.8%
Waco, TX
3.3%
Wichita Falls, TX
3.1%
Homes sold and average home price data is from Redfin.com. Median Rent data is from rentcafe.com.

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