Denver falls five places to 11th on “Markets to Watch” list
The Urban Land Institute released their annual “Markets to Watch” list for 2017. Denver ranked 11th out of 78 rated markets — not bad.
But if we are being perfectionists, it’s not quite as good as last year.
The Urban Land Institute ranks markets based on survey responses of more than 1,500 real estate experts. In ULI’s 2016 outlook, Denver ranked 6th on the list.
This year, Denver demonstrated strong growth in hospitality, leisure, construction and professional sectors. And despite large influxes of transplants, we maintained a high employment rate.
But it was losses in the energy sector that precipitated the fall, according to the report.
Depressed oil and gas prices in January 2016 pushed the amount of active rigs to an all-time low across Colorado and eliminated many jobs.
Climbing prices in the summer restored some hope of energy sector stabilization, and ULI’s report predicts that the worst of this backlash is most likely over.
As for the future, the Urban Land Institute predicts Denver’s strongest growth will be in professional services, including engineering, computer systems design and scientific research.
Here are the Urban Land Institute’s top 20 markets to watch in 2017:
- Dallas/Fort Worth
- Los Angeles
- Orange County
- San Francisco
- New York – Manhattan
- Oakland/East Bay
- New York – Brooklyn
- San Jose
- Salt Lake City
- Tampa/St. Petersburg
Multimedia business & healthcare reporter Chloe Aiello can be reached via email at firstname.lastname@example.org or twitter.com/chlobo_ilo.
Subscribe to Denverite’s newsletter here.