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Mountain West Real Estate Investment Market Report: January 2021

Quick loan application for construction funding

A hard money loan can be a good option for a variety of reasons. For example, if you’re having trouble getting a loan from a bank with the terms you need, you need quick approvals and/or funding, you’re looking for tailored loan solutions, and/or you don’t want to bring in an equity partner.

Now, let’s talk about what you should know before looking for a hard money loan, and ways you can ensure a quick and easy loan process.

Read full article (3 min read)

Market Activity

Denver, CO
Market Overview

As the Denver economy continues to slowly recover, the region’s unemployment rate is down to 6.6 percent in the fourth quarter. As the fight against COVID-19 continues, Denver’s economy should remain strong throughout this year. As for Denver’s office market, it closed out 2020 with an overall vacancy rate of 17.7 percent. This uptick is partly due to vacant sublease space that came to the market in the fourth quarter.

1,357
Homes Sold
$477,000
Avg. Home Price
$1,611
Median Rent
Vacancy Rates Graph
U.S Census Bureau: third quarter 2020
5.0%
Rental Vacancy Rate
0.9%
Homeowner Vacancy Rate
8.4%
State Unemployment Rate
Metro Area Unemployment
Boulder, CO
5.1%
Colorado Springs, CO
6.0%
Denver-Aurora-Lakewood, CO        
6.4%
Fort Collins, CO
5.2%
Grand Junction, CO
6.0%
Greeley, CO
6.4%
Pueblo, CO
8.3%

Market Activity

Salt Lake City, UT
Market Overview

As a result of stay-at-home orders due to COVID-19, Salt Lake City lost 13,800 jobs overall, and saw its unemployment rate increase by 1.8 percent year-over-year through November 2020. Of the 13,800 jobs, 10,500-or 76.1 percent-of the jobs lost were in the leisure and hospitality sector. The professional and business sector saw a loss of 8,300 jobs. In the same time period, monthly unemployment for the region increased from 2.0 to 4.2 percent, according to Cushman & Wakefield.

409
Homes Sold
$415,000
Avg. Home Price
$1,236
Median Rent
Vacancy Rates Graph
U.S Census Bureau: third quarter 2020
4.8%
Rental Vacancy Rate
0.1%
Homeowner Vacancy Rate
3.6%
State Unemployment Rate
Metro Area Unemployment
Logan, UT-ID
2.6%
Ogden-Clearfield, UT 
3.6%
Provo-Orem, UT
3.3%
Salt Lake City, UT
4.2%
St. George, UT
4.3%

Market Activity

Dallas, TX
Market Overview

The Dallas-Fort Worth region continues to recover. With a high unemployment rate compared to last year, the region added nearly 48,000 jobs from the third to the fourth quarter, bringing it close to its pre-COVID-19 levels. Year-over-year, Dallas-Fort Worth’s population increased by 121,603, and in the fourth quarter alone, it increased by 29,070. In December 2020, it reached a new high of over 7.8 million residents.

1,309
Homes Sold
$375,000
Avg. Home Price
$1,228
Median Rent
Vacancy Rates Graph
U.S Census Bureau: third quarter 2020
9.9%
Rental Vacancy Rate
0.6%
Homeowner Vacancy Rate
7.2%
State Unemployment Rate
Metro Area Unemployment
Abilene, TX
6.0%
Amarillo, TX
5.4%
Austin-Round Rock, TX
5.9%
Beaumont-Port Arthur, TX
11.8%
Brownsville-Harlingen, TX
11.2%
College Station-Bryan, TX
5.6%
Corpus Christi, TX
10.0%
Dallas-Fort Worth-Arlington, TX
7.1%
El Paso, TX
9.3%
Houston-Sugar Land, TX
8.9%
Killeen-Temple, TX
7.4%
Laredo, TX
9.1%
Longview, TX
8.9%
Lubbock, TX
6.2%
McAllen-Edinburg-Mission, TX
12.5%
Midland, TX
9.3%
Odessa, TX
13.1%
San Angelo, TX
7.2%
San Antonio-New Braunfels, TX   
7.3%
Sherman-Denison, TX
6.1%
Texarkana, TX
6.9%
Tyler, TX
7.1%
Victoria, TX
8.9%
Waco, TX
6.6%
Wichita Falls, TX
7.3%
Homes sold and average home price data is from Redfin.com. Median Rent data is from rentcafe.com. 

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