DENVER, CO — Denver’s weakening economy will drag on apartment fundamentals this year, though a diverse employment base should support a shallower downturn than the nation as a whole, according to a third-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.The metro’s growing alternative energy and biotechnology presence lends to a healthy outlook, with large employers such as ConocoPhillips and DaVita Inc. relocating to the area for its relative affordability and educated labor pool.
“Fewer quality offerings and a disparity between buyers’ and sellers’ expectations have hindered sales activity during the past 12 months, as buyers continue to wait for further price reductions,” says Adam Christofferson, (top right photo) regional manager of the Denver office of Marcus & Millichap.
For additional information on the Denver market, please contact Stacey Corso, Communications Department, (925) 953-1716
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