Drawing Conclusions: Mile High Home Shortage
To what do we attribute the scarcity of homes in the metro area?
The deficit of homes in the Denver metro area, which represents the demand for housing and the supply of available housing, is expected to peak this year at 32,000. Experts say it could take up to 10 years to correct the imbalance of homes needed.
The current deficit is attributed to a shortage of land available for development as well as a shortage of trades (workers), which leads to the slowing of new-build activity.
Source: Denver Metro Association of Realtors
Market Trends, February 2018