Denver has been at the epicenter of westward migration since the turn of the century, with the incoming traffic unlikely to slow anytime soon. As a result, it is of the utmost importance to stay ahead of the latest home building trends to stand out in a highly competitive market.
Due to its high correlation and dependance on interest rates, real estate was the first industry to go into a recession. Builders and refinance lenders felt it first and, as early as April, the reality of higher rates slowed demand dramatically.
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Recessions impact people personally, with some taking a bigger hit than others. Before building a home during a recession, buyers should consider their job’s stability, including how dependent their income and finances are on the broader economy.