Denver was ranked 6th on Urban Land Institute’s annual list of “markets to watch” for real estate trends.
The annual report said that 2016 will be the year of secondary and tertiary markets, a category which Denver fits into. Secondary and tertiary markets refer to markets that are large, but not as large as primary markets like New York City and San Francisco.
The ranking is based on survey results and interview notes for the purpose of determining market participants’ feelings about a given city.
The report importantly stated that, ”The strength of the economy in Colorado’s state capital seems to have put it on everyone’s list of top markets for 2016.”
Survey respondents said that Denver’s exposure to the technology industry and the public and private investments in infrastructure made them feel comfortable about the city’s continued growth.
Infrastructure investment is Denver’s lowest score of the three categories examined, but its score in the infrastructure investment category is still one of the highest in the survey.
Home-building was Denver’s highest-ranked category and the third-highest in the country, while development was second-highest. Click here to see the full report.
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(Image via the Urban Land Institute)