As Rental Rates Continue to Rise, Denver's Landlords Aren't Selling Their Properties
Posted by West + Main Homes on
If you've been shopping for a home in the Denver Area lately, you know that inventory is still really low and homes that are priced right and show well are selling very quickly. There are many factors that combine to explain our current Seller's Market...and this is one of them:
Bill McBride, an economist famous for predicting the housing crisis of 10 years ago, said the wave of rentals is “one of the key reasons inventory’s been low and will probably stay historically a little low.”
Across the country, 3.9 million single family homes have been converted from owner-occupied to investor-owned rentals since the Great Recession. In the Denver metro, there are 102,587 single family homes believed to be rentals, according to Attom Data Solutions.
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