1031 Exchange Colorado
Real estate investors are hunting for the best places to invest and buy in properties in 2019. Colorado is one of these places. Denver, CO recently made it in the PwC’s Emerging Trends in Real Estate Report as one of the top 10 housing markets to follow in 2019! This is a positive indicator of booming real estate in the state of Colorado.
Studies of relevant trends affecting the Colorado housing market reveals that Colorado truly has the potential to provide profitable investment opportunities. Property investors are considering Colorado rental property a good investment in 2019. Let’s look at the reasons which make Colorado a good bet.
Why should I do a 1031 Exchange in Colorado?
Economic and Population Growth Trends
Colorado housing market is the seventh fastest-growing in the country. It’s been underrated for a long time, but there has been a massive spike in newcomers in recent years. The Centennial accommodated nearly 80,000 new people last year, which is a population growth of 1.4%. This outranks the national average of 0.6% as per the Census Bureau.
Moreover, the last few years have been fascinating in terms of economic growth for Colorado. Colorado’ economy grew 4.5% year-over-year in Q1 2018 as per the Bureau of Economic Analysis (BEA). Also, the state added about 72,200 jobs last year (a year-over-year increase of 2.7%). As of June 2018, the unemployment rate of Colorado is 2.7%, which is significantly lower than the national average of 4%!
These factors supported Colorado rank in the top 10 states in America, where one can also land their dream job. With a strong economy and a booming population, it’s anticipated that the Colorado housing market 2019 will remain a practical option for real estate investors.