Are investors afraid of our current housing market? Not if you believe the latest NAR report on housing, which shows that 30% of all home purchasers in July were "all cash" buyers!
That's a staggering number, the highest I have seen in 16 years, and it points out that investors continue to hunger after foreclosures, fixers and other cash-flowing rental opportunities.
In a related story, the Denver Business Journal reported earlier this month that Denver area apartment vacancies had fallen to a two-year low and that rents have increased by nearly 4% in the past year. In Fort Collins, rents increased by more than 5% while the overall vacancy rate is 25% lower than one year ago.
Many analysts continue to believe that Colorado will be one of the strongest performing rental markets over the next few years, as home ownership rates continue to fall and the economy regains its footing. With virtually no new construction coming along for the foreseeable future, competition figures to increase for all types of rental housing.
