Job Bounce

“How could the real estate market be so strong in the middle of a pandemic?”

That is a fair question and one we hear frequently from our clients.

There are several reasons for this but two stand out.

  • Interest rates
  • Jobs

Employment has bounced back much quicker than most people expected.  When COVID first showed up, the expectation was that many industries would be hit hard for a prolonged period of time.

The reality is that only a few industries were severely impacted by COVID and the rest were able to get back to a near-normal level of business relatively fast.

Additionally, what we find along the Front Range is that our ‘job bounce’ is even better than the national average.


Here are the numbers…

The COVID-peak unemployment rate for the Front Range looked like this:

  • Larimer County = 11.1%
  • Weld County = 10.1%
  • Metro Denver = 12.3%

Today it looks like this:

  • Larimer County = 5.2%
  • Weld County = 5.2%
  • Metro Denver = 6.4%


Nationally, unemployment peaked at 14.8% and now stands at 6.7%.

So, a main reason why demand is high now is because jobs have bounced back, and the bounce is even higher than the average across the country.


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Forbearance Falls

The number of loans in forbearance just fell to their lowest level since mid-April.


This is good news for the real estate market.


Less and less people are seeking payment relief on their mortgages.


The number of loans currently in forbearance stands at 7.16%.


This news coincides with the U.S. Unemployment Rate falling to it’s lowest level in 5 months as more people are getting their jobs back.


The economy has added back roughly half of the 22.2 million jobs that were lost in March and April of this year.


At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

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The Front Range may have lost out on Amazon’s HQ2, but that doesn’t mean their company won’t affect our economy.

Denver was in the running for Amazon’s massive new second headquarters that supposedly would bring 50,000 new high-paying jobs and $5 Billion of investment.

In the end Amazon chose to split the headquarters among two East-Coast cities and many in Colorado breathed a sigh of relief.

But they are will continue to be an economic force in our state.

Over the past two years, Amazon has greatly expanded its footprint in Metro Denver, opening up a sorting center in Aurora, fulfillment centers in Aurora and Thornton, a Prime Now center in Denver and a new delivery center in Centennial.

They will soon have 3,000 workers here and that number is expected to grow significantly.



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