The chart above shows we are still struggling with a renter's market. According to the chart there are about 850 rentals advertised in Boulder's Daily Camera newspaper. This number was about 25% lower just a week ago. My peers feel this jump is from vacant student rentals that normally appear in the Colorado Daily due to the semester turnover. This correlates with the current vacancy rates in both markets.
Overall, we are still in a strong renter's market. The vacancy rate remains higher than normal. Expectations are that the very high number of foreclosures will begin to bring down the supply of rentals as these properties sell and move off the rental market.
With encouraging forecasts for Colorado's economic future we expect the market to improve. However, this could take another year or so before we see significant improvements.
