Northern Colorado New Briefs
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Fort Collins, Boulder top emerging housing markets
The Wall Street Journal and Realtor.com recently released their Spring 2022 Emerging Housing Markets Index. Boulder ranked #6 and Fort Collins #8. The index analyzes housing market data, lifestyle metrics and economic vitality to identify markets that have a high quality of life coupled with expected housing appreciation. Click here to read the full Emerging Housing Markets Index report.
Colorado cities make best places to start business list
WalletHub, a personal finance website, recently ranked the best small cities to start a business and 17 Colorado communities made the list. A total of 1,334 small cities with populations between 25,000 and 100,000 were evaluated by factors including business costs, access to resources and business environment. Colorado communities on the front range making the Top 100 include Englewood #26, Longmont #40, Windsor #58, Loveland #65, Lafayette #74 and Fountain #82. Click here to read the complete WalletHub article.
IRES 1st Quarter Report
Information and Real Estate Services (IRES) recently released their Q1 2022 MarketWatch Report and in Northern Colorado home prices were up across the board. In Larimer County, the median sales price was $571,950 for Q1-2022, an increase of 23% year-over-year. The number of closed sales was down 21% dropping to 1,216. In Weld County, the median sales price was $490,000 for Q1-2022, a 18.1% year-over-year increase. The number of closed sales was down 11.7%, coming in at 1,711. In Boulder County, the median sales price was $845,000 for Q1-2022, a 15% year-over-year increase. The number of closed sales was down 17.8%, coming in at 701.
Weld County adds most residents
According to data recently released by the U.S. Census Bureau, Weld County added more residents than any other Colorado county since the April 2020 census. Approximately 11,055 residents were added, reflecting 3.4% growth with a total population of 340,036. The top five rounded out with Douglas County ranked #2, El Paso County #3, Larimer County #4 and Douglas County #5 in regard to residents added. Click here for the full article.
Boulder #2 for Zoomer renters
RentCafe recently released a list of the Trendiest Zoomer Hotspots in 2022 and Boulder came in at #2. The study gauged the popularity of cities across the country by comparing the share of total apartment applications submitted by members of each generation. In Boulder, 66% of applications were from Zoomers, or Gen Z, born in the late 90s and early 2000s. They were followed by Millennials that came in at 18%. Denver was also identified as an emerging hot spot at the state-level. In one year, applications from Zoomers increased by 29%, an indicator that the city is an up-and-coming favorite.
Vestas leading global wind turbine manufacturer
According Global Data, Vestas Wind System AS has become the leading global manufacturer of wind turbines. Measuring by gigawatts of installations, Vestas has 19% market share followed by GE Renewable Energy in second place with 13.4% market share. Vestas has two North American manufacturing facilities in Colorado specializing in blades and nacelles – one in Windsor, CO and the other in Brighton, CO. The company employs approximately 1,500 people in Colorado.
Colorado economic indicators on rise
Almost all Colorado economic indicators finished on the rise in 2021, and that momentum is expected to continue into 2022. The state added 152,000 jobs between December 2020 and December 2021, a 5.8% growth. In the full year, 157,828 new business entities were filed, up 2.9% compared with 2020. CU’s Business Optimism Index came in at 58 ahead of the first quarter of the new year. A score of 50 is neutral and, to give perspective, the index was at a record low 29.7 in the first quarter of 2020. Click here to read the full Q4 Colorado Quarterly Business & Economic Indicators report.
Colorado job-training funding
As part of the Colorado Recovery Plan, funds have been allocated for students, job seekers and currently employed workers to develop skills and learn new ones. Authorized programs include focuses on agriculture, health care and skilled trades such as auto repair. In Weld County, the Employment Services department was granted $1.4 million in job-training funds and they are seeking applicants, details here. To learn about additional opportunities, visit: mycoloradojourney.com/journey/recovery.
I-70, North I-25 Improvements
Transportation Secretary Pete Buttigieg recently met with Colorado leaders to discuss the Floyd Hill project, which would significantly expand I-70 of Floyd Hill. Colorado is expected to receive almost $5.5 billion in federal funding over the next five years. The funds would be used to improve roads, bridges, public transportation, airports, electric vehicle charging networks, and highway safety programs. The North I-25 Coalition is working to ensure funding for the remaining unfunded segments of North I-25 are included. Click here to read more from the Northern Colorado Legislative Alliance.