The typical U.S. homeowner is staying put in the same place five years longer than at the start of the decade. But metro Denver residents aren’t typical.
Back in 2010, U.S. homeowners had spent a median of eight years in their homes, according to a study from Redfin, a national real estate brokerage firm based in Seattle. But this year, the median tenure is now at 13 years.
In Salt Lake City and Houston, the median tenure exceeds 23 years, and it is above 20 years in Fort Worth, San Antonio, and Dallas, according to Redfin.
By contrast, metro Denver residents are tumbleweeds. The median tenure went from 8.7 years to 9.3 years. The increase was only 6.9%, the smallest of the 55 metro areas Redfin examined.
In Indianapolis, the median tenure is up 92.2%, while in Austin, Texas, it is up 89.7%.
“When homeowners stay put, that can reduce the number of homes for sale, making a market more competitive for buyers,” said Daryl Fairweather, chief economist with Redfin, in the study.
The property at 1833 Emerson St. in Denver, the scene of three-alarm fire that destroyed an under-construction apartment project and killed two men last year, will be rebranded in the coming weeks as the development company that owns the property prepares to rebuild there.
The Emerson Place Apartments project near the intersection of Emerson Street and East 18th Avenue was set to be a five-story building containing 84 apartments in North Capitol Hill before its exposed wood frame ignited on March 7, 2018. The flames eventually climbed 200 feet in the air in one of the largest fires in recent Denver history. Two workers on the site that day, 37-year-old Dustin Peterson, an electrician, and 29-year-old Roberto Flores-Prieto, an insulation installer, died in the fire. Six other people were hurt.
The cause of the inferno remains unknown, according to Denver Fire Department officials.
The property has been largely quiet since investigators wrapped up their on-scene work. The only thing t..
The city of St. Paul and Ryan Cos. US Inc. have reached an agreement on a $1.4 billion redevelopment of the 122-acre former Ford Motor site in the Highland Park neighborhood.
That agreement includes a subsidies package that starts at $60 million for infrastructure and could include as much as $142 million more for affordable housing both at the Ford site and across the city (city officials have not specified how exactly the affordable housing dollars would be allocated).
The primary purpose of the site is to provide Real Estate & Mortgage information as it relates to today’s business environment. It can also be used to answer a related question you might have about buying, selling, or financing real estate.
The primary purpose of the site is to provide Real Estate & Mortgage information as it relates to today’s business environment. It can also be used to answer related question you might have about buying, selling, or financing real estate.