The Colorado Division of Housing reported last week that Colorado Springs average rental rate hit an all-time high in the second quarter of 2011 at $759 a month.
But whether that’s really an all-time high and what that says about the market depends on whom you ask.
Division of housing spokesman Ryan McMaken said median rental rates [...] [...]
Like a barometer, apartment rental rates provide a measure of the Pikes Peak economy — and this summer the pressure is rising, though demand could soon drop even faster.
Vacancy rates in apartment communities of 50 units or more are down to a 10-year low of 6.1 percent, compared to about 8.4 percent last year.
Not surprisingly, [...] [...]
While commercial real estate deals have picked up, the local multifamily investment market remains stuck in low gear, in part because investors sniffing for distress deals aren’t finding them here.
That, of course, is a good sign for anyone holding such property.
Investors have shown the most interest in new Class A properties as well as bottom-rung [...] [...]
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