HUD: “Market Watch” and “Market Opportunities” – September 2006
Update by HUD on local rental market conditions.
You can see the full report at:
“Market Watch” and “Market Opportunities” – September 2006
Highlights:
Rocky Mountain Economic and Market Analysis Section (EMAS) “Market Watch” and “Market Opportunities” – September 2006 by the U.S. Department of Housing and Urban Development (HUD)
Market Watch -September 2006
Fort Collins: The rental market has shown signs of improving, but remains soft. According to the Colorado Division of Housing (DOH) first quarter 2006 survey, the renter vacancy rate was 8.8 percent, down from 12.9 percent reported in the first quarter 2005. Average rents during the same period fell from $788 to $743. Increased competition has put downward pressure on area rents.
Loveland: The rental market vacancy rate and average monthly rents have improved. According to the DOH, the rental vacancy rate was 6.3 percent in the first quarter 2006, down from 10.5 percent in the first quarter 2005. The average monthly rent for the same period increased from $762 to $797.
Greeley, Colorado PMSA (Weld County) (Crain) - The rebound of the Greeley economy has continued. There have not been any significant changes in the Greeley rental market since the June 2006 ‘Market Watch.’ The rental market vacancy rate has improved; however, average monthly rents have decreased. The Group, Inc. stated in their August 2006 Real Estate Insider there remains excess rental inventory.
