Ten Predictions for Denver Real Estate in 2020 and Beyond

October 10, 2019, Posted By: Richard Simon
Denver real estate

As we close out 2019, we have our eye towards 2020 real estate trends, many of which look to be stable for the following years. Join us as we predict what you can expect from the Denver Real Estate market in 2020 and beyond.

1. Slowing Growth

In 2019, we saw slightly slower growth in the real estate market than in years prior. In 2020, we’ll see even slower growth—but not decline.  

2. Even More Millennials

Demand for housing from Millennials is one reason that the Denver market won’t head into decline. There are many Millennials left who have yet to enter the housing market. Only a third of those under 35 currently own a home.

3. Concerns over New Construction

With such extreme demand from Millennials and downsizing Baby Boomers, Denver is seeing an influx of new developments. With so many homes being built, those who are buying should be concerned about quality.

4. Urban Living

Not everyone is eying new suburb developments. As Millennials are more likely to be concerned about lifestyle than location, they may be attracted to more urban suburbs.

5. Patient Buyers

Millennials are much older as first-time buyers than previous generations have been. Perhaps that has given them some patience to buy in the off-season. For real estate agents, this is good news, as it spreads out your sales.

6. Apartment Influx

As the Denver real estate market continues to post growth, if slower growth, developers behind multi-unit buildings will prefer to create apartments, not condos.

7. Baby Boomer Pressures

While Millennials may seek out urban suburbs and apartment buildings, those who want to live with their grandparents will invest in properties with mother-in-law suites. Baby Boomers are also drawn to these properties, as they tend to be more accessible.

8. Say Good-Bye to Slot Homes

Although there is demand for high-density housing, Denver’s City Council has passed a bill that bans “slot homes” or higher density apartments that sit in neighborhoods which otherwise have single-family dwellings.

9. Stable, Low-Interest Rates  

Freddie Mac is currently predicting that interest rates will remain at 3.7% through 2020, according to the Mortgage Reports. These historic low rates should help quell some fears that the real estate market is hitting a peak.

10. Growing Cannabis Real Estate Opportunities

The marijuana market is only growing globally, so it will continue to make demands on the real estate market. Cannabis needs to be grown on farmland, stored in warehouses, and sold in commercial centers. At every step, the marijuana market needs real estate. At New Home National Title, we have experience in cannabis real estate.

Choose a Title Company that Looks to the Future

New Home National Title embraces change, overcomes challenges, as is always looking to the horizon. We developed our Elite Closings process to take advantage of the latest technology, so you have a more secure, straightforward transaction. 

Contact us to learn more about why we should be your title company partner in 2020 and beyond.

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