Find Real Estate Agents and Homes for Sale

Real Estate News --> Colorado News

Colorado Sees A Record Number Of Residents Wave Goodbye

Has Colorado's Population Boom Peaked ... especially for single-family homes. Still, professionals in real estate and moving businesses say they aren't yet seeing a slack in the number of people moving here. "I suppose if we had negative or slowing ...

Archived Story

A "Leaving Colorful Colorado" sign near the Utah border. Courtesy of Flickr user Brianna Lehman/CC A record number of residents have moved out of Colorado, according to new data from the U.SCensus Bureau. New annual figures from the bureau's American Community Survey show that Colorado saw its first drop in about a decade in 2016 in the number of people arriving from other states, while those leaving Colorado hit a record highThe result was the lowest net-migration number — 30,000 total new residents — in seven years. Has Colorado's Population Boom Peaked? Probably, Says State Demographer About 193,000 Colorado residents moved away last year, 10,000 more than in 2015, according to the dataMeanwhile, 223,000 people moved into the state, down about 4,000 from the year, though still well above recent years. "We are seeing that there has been an increase in outs — the highest on record," said state demographer Elizabeth Garner. The Census Bureau survey numbers do not include people who have moved to the state from abroadAnd because the counts are based on surveys, the margin of errors can be large, especially when looking at movements to and from individual states, The Denver Post reported. Tax-return counts from the IRS show that Colorado experienced a big jump in both households arriving and leaving from other states in 2016 versus the previous yearBut on the whole, net migration among people who filed tax returns isn't declining. Home prices in metropolitan Denver are up 57 percent the past eight years through October, as measured by the S&P CoreLogic Case-Shiller home price indicesThe average apartment rent since mid-2009 is up 63.6 percent, according to rent figures from the Apartment Association of Metro Denver. The average hourly wage, by contrast, rose from $25.07 to $28.94, an increase of only 15.4 percent, according to the U.SBureau of Labor Statistics Meanwhile, Colorado's population grew by 11 percent from 2009 to 2016, to 5.55 million residents. The drop in net migration could help explain why Colorado's unemployment rate dropped sharply to a record-low 2.3 percent this spring. Loading Graphic... But slower population growth could help housing markets along the Front Range rebalance after years of strong gains in home prices and rents and allow builders to catch up on supply shortages, especially for single-family homes. Still, professionals in real estate and moving businesses say they aren't yet seeing a slack in the number of people moving here. "I suppose if we had negative or slowing migration numbers, then, yes, it could help the constrained marketBut I have not experienced that yet and would be surprised to see a slower market in 2018," said Steve Thayer, chairman of the Denver Metro Association of Realtors and owner of the Keller Williams Action Realty office in Castle Rock. Population GrowthHousingCensus BureaudemographicsFront Range Colorado Public Radio reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any mediumBy commenting below, you agree to these termsFor additional information, please consult our Privacy Policy & Terms of Use as well as our Community Standards. Business Donate To CPR Support impartial journalism, music exploration and discovery with your monthly gift today.

Trending Colorado News:

  • Cheyenne Creek Luxury Apartment Homes
  • A deadly home explosion renews debate on drilling near homes
  • Arvada puts lake up for sale
  • Buell, Jones among 6 new inductees into Colorado Business Hall of Fame
  • Business briefs: Colorado Group Realty adds transaction team
  • Ranking: Real estate is hot in Wichita
  • Trustee report: Market sluggish, foreclosures as expected
  • Vail Daily business briefs
  • Denver, Colorado home price gains stay strong, reports show
  • Denver economic development chief Paul Washington takes job with real estate firm
  • Harris Sherman leaves the USDA, Forest Service
  • Colorado State student, boat crew member missing off Florida coast after spring break trip
  • Police: Colorado Springs mayoral candidate pointed assault rifle in domestic violence incident
  • Fire evacuees allowed back near Colorado college town
  • Berthoud, CO Homes For Sale & Real Estate
  • ‘Mad pooper’: Jogger wanted for defecating in front yards of Colorado homes
  • Base Village construction work likely to start in 2016
  • Tax-increment financing proposal pushed for 9th and Colorado property
  • Deal protects Colorado River Ranch
  • SPRINGS candidate for mayor in jail on many charges