The rebounding for-sale housing market, including the decreasing “shadow market” of foreclosed units, will continue to affect the apartment market. Sales activity has increased as financing becomes more readily available, particularly for first time home buyers, thereby improving absorption of the oversupply of single family homes and condominiums. The increasing level of rental rates may also encourage more apartment residents to take advantage of record low mortgage interest rates. Apartment sales are expected to continue to be strong as investors see the Denver market as wellpositioned, both short term and long. As conventional financing continues to be more readily available Denver’s tight vacancy rates and increasing rental.
