How’s the market you ask… Which market are you interested in?
Real estate market has a wide scope. When we talk about market, real estate has plenty of it and each market under real estate also branches out to several important areas. To name a few; real estate can be divided in to 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.
But the good thing about a real estate market is that, you can never be too fixated in just one even when the other isn’t doing so good. The fact is, another different market of real estate can possibly still sell good and it’s just too good to say no to it.
In Northern Colorado, the market for rental homes are doing good. Statistics from Colorado Apartment Insights LLC’s 3Q show a vacancy rate of 5.15% for all of Northern Colorado, with the rate going as low as 3.69% in Loveland. This means, that it is a good time to market this area to real estate onlookers and also, a good time for them to invest.
Some reasons why it’s best to invest on residential rental homes:
-Increase in job growth.
-Number of homes for sale is shrinking.
-Decrease in numbers of apartment construction.
-Lending practices changes; making it more difficult for some people to buy homes.
-Vacancy rates decrease.
-More increase rates.
-Echo boomers practicing their own right in buying/renting homes.
