Colorado Job and Real Estate Forecast: Growth Ahead but Potential Slowdown on Horizon
• Colorado job growth and employment expansion forecast in several areas due to diverse economy • Real estate issues ahead - office vacancy rates could reach 25-30% in Denver-Boulder area • Apartment oversupplypredicted, potential for 2-3 months' free rent for renters in a year • High interest rates reduce home sales and supply, but prices unlikely to crash like 2008 • Slight reckoning of real estate prices expected, but not a severe crash due to low refinancing rates