Even with recession chatter and it being an election year, the economy is still growing especially in Colorado, which has one of the strongest retail markets in the country, showing the depth of disposable income available in the area. The strength of the economy plus low unemployment, low interest rates and high consumer confidence show that 2020 will be another strong year for business development and thus commercial real estate.
By the end of Q3 2019, Denver’s economy was more than healthy reaching a 2.8% unemployment rate, well below the national average of 3.7%. And despite signs of an economic slowdown, and the 2020 election looming ahead, Denver’s economy has been diversifying through its economic expansion period hedging it against some of the detriments a downturn may cause. In our experience, demand for commercial real estate remains positive. In Denver, and similar tier 2 metros like Atlanta, Dallas, and Phoenix, developer investments and incoming businesses are strong.