“Demand pressures continue to strain the market, so developing more apartments continues to be the priority.”
Man arrested after allegedly chasing people with machete before setting fire to apartment, police say
A lot of supply is in the pipeline, according to a separate report from Apartment Appraisers and Insights. More than 50 new apartment communities are under construction representing more than 40,000 new apartments, most of which are expected to come online before the end of 2024. But labor shortages and supply-chain issues could result in only about 25,000 units becoming available in that time frame.
Throupe said a record 19,353 apartments were absorbed in metro Denver last year. Given how much growth the region has experienced in the past seven years, there is always a concern that new supply might outstrip demand. But so far, it isn’t happening. Migration, job gains, and the limited number of homes for sales have continued to support apartment demand.
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