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Mountain West Real Estate Investment Market Report: June 2020

Keeping Employees Safe: How to Successfully Re-Open Your Job Sites

As states begin the slow, careful process of reopening, many of you might be wondering what your construction site will look like or what additional steps you can take to ensure your employees remain healthy. We’ve put together a list of ways you can help ensure your site is reopened safely.

Start by creating and posting a COVID-19 exposure control, mitigation, and recovery plan at each job site.

Next, designate a COVID-19 supervisor at every job site. They should be responsible for monitoring the health of employees and enforcing the job site safety plan.

Read more

Market Activity

Denver, CO
Market Overview

According to a report by the Denver Metro Association of Realtors, Denver’s metro area saw just over 7,000 new listings in May, up 56 percent from April but still down almost 17 percent year-over-year. In the 11-county metro, active listings were up 4.6 percent from last month, yet down nearly 20 percent from last year. There were 6,800 sales pending in May which may indicate a more optimistic picture and would reflect an increase of 11.5 percent month-over-month.

830
Homes Sold
$465,000
Avg. Home Price
$1,644
Median Rent
U.S Census Bureau: first quarter 2020
4.5%
Rental Vacancy Rate
0.9%
Homeowner Vacancy Rate
11.3%
State Unemployment Rate
Metro Area Unemployment
Boulder, CO
9.7%
Colorado Springs, CO
12.3%
Denver-Aurora-Lakewood, CO
12.1%
Fort Collins, CO
11.0%
Grand Junction, CO
12.6%
Greeley, CO
9.8%
Pueblo, CO
11.7%

Market Activity

Salt Lake City, UT
Market Overview

The median list price in Salt Lake City increased by 1 percent from May to June. Meanwhile, home resale inventories decreased by 1 percent, down to 494. Distressed properties, foreclosures and short sales, remained the same as a percentage of the total market in June.

333
Homes Sold
$499,950
Avg. Home Price
$1,251
Median Rent
U.S Census Bureau: first quarter 2020
6.3%
Rental Vacancy Rate
0.6%
Homeowner Vacancy Rate
9.7%
State Unemployment Rate
Metro Area Unemployment
Logan, UT-ID
6.2%
Ogden-Clearfield, UT
9.7%
Provo-Orem, UT
7.8%
Salt Lake City, UT
11.2%
St. George, UT
12.3%

Market Activity

Dallas, TX
Market Overview

The annual home price gains for the Dallas-Fort Worth area over the past year have been significantly lower than the national average during that time frame. Over the years, this metro area has seen home values climb slowly and steadily, yet the long-term housing forecast predicts that home prices will decline by nearly 1.5 percent over the next 12 months. Some experts believe that if Dallas home prices do fall over the next year or so,  it will probably be a short-term downturn. Supply and demand will likely push prices up again.

814
Homes Sold
$315,000
Avg. Home Price
$1,237
Median Rent
U.S Census Bureau: First quarter 2020
8.3%
Rental Vacancy Rate
1.5%
Homeowner Vacancy Rate
12.8%
State Unemployment Rate
Metro Area Unemployment
Abilene, TX
8.9%
Amarillo, TX
8.8%
Austin-Round Rock, TX
12.2%
Beaumont-Port Arthur, TX
18.1%
Brownsville-Harlingen, TX
17.1%
College Station-Bryan, TX
8.9%
Corpus Christi, TX
15.9%
Dallas-Fort Worth-Arlington, TX
12.8%
El Paso, TX
14.8%
Houston-Sugar Land, TX
14.2%
Killeen-Temple, TX
11.3%
Laredo, TX
13.6%
Longview, TX
12.3%
Lubbock, TX
9.9%
McAllen-Edinburg-Mission, TX
18.2%
Midland, TX
10.2%
Odessa, TX
13.5%
San Angelo, TX
10.6%
San Antonio-New Braunfels, TX
13.2%
Sherman-Denison, TX
10.6%
Texarkana, TX-AR
13.8%
Tyler, TX
12.2%
Victoria, TX
14.2%
Waco, TX
10.6%
Wichita Falls, TX
11.3%
Homes sold and average home price data is from Redfin.com. Median Rent data is from rentcafe.com.

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