Rental-home vacancies low in Q4; rents edge up Despite low vacancy rates below 1.7 percent, rents for metro Denver houses and condominiums only inched up during the fourth quarter, according to a report Wednesday from the Colorado Division of Housing. The vacancy rent for rental homes and condos dropped to 1.7 percent in the last quarter of 2012 from the 2.1 percent vacancy rate in the same quarter of 2011.
Denver metro home rental market has few vacancies
"When a rental house becomes vacant, we're quickly getting multiple offers from people who want to rent the house," said Robert Alldredge, owner of Jericho Properties Realty in Lakewood.
"The market is as tight as I can remember, and I've been doing this for 30 years," said Alldredge.
Denver rental vacancies drop as demand grows
Metro Denver vacancy rates dropped during the fourth quarter of 2012 to 1.7%, according to the Colorado Division of Housing. This was down from the 2.3% vacancy rate the previous quarter and a 2.1% rate a year earlier.
Foreclosure filings in Colorado in 2012 drop to pre-recession levels
Foreclosure filings in Colorado dropped to pre-recession levels in 2012, a sign that the worst of the housing crisis in Colorado is over and recovery has begun, analysts said Wednesday.
The Colorado Division of Housing reported 28,579 foreclosure filings last year, the lowest since 2006 when there were 28,435 filings.
Loveland's vacancy rate lowest in state
The multi-family vacancy rate in Loveland in the fourth quarter of 2012 was 1.9 percent, lower than the rate in any other city in the state.
The new figures also marked a sharp decrease from Loveland's 5.3 percent vacancy rate in the fourth quarter of 2011, according to new data release Wednesday by the Colorado Division of Housing.
Renters feel squeeze of tight market with few options
Renters in Fort Collins and Loveland continue to face an extraordinarily tight rental market that shows little sign of abating for at least another year.
Vacancy rates in Fort Collins/Loveland fell to 2.4 percent in the last three months of 2012, a percentage point tighter than the year before, according to the fourth quarter Colorado Multi-Family Housing Vacancy and Rental Survey conducted for the Colorado Division of Housing.