Denver Market Update: June Rent Collections Report

May rent collection rates ended the month at 97% up for percent from the numbers we reported during the middle of last month. This high collection rate once again demonstrates that most renters continue to fulfill all rental obligations.

COVID-19Peter StandleyJuly 16, 2020June 2020, Performance, Collections, 1

Research Brief: What Drove the May Employment Bounce Back

Labor market rebounds as restrictions begin to ease. Employers added 2.5 million jobs in May to bring the unemployment rate down to 13.3 percent, indicating the worst of the economic fallout may be behind us. Economic shutdowns resulted in job losses of 22.1 million in March and April, pushing the unemployment rate to 14.7 percent, the highest since 1948. While employment gains are very encouraging, uncertainties and a long road to recovery for America’s labor market remain, broadly impacting commercial real estate over the coming months.

COVID-19Peter StandleyJune 8, 2020June 2020, Employment, 1

Denver Market Update: May Rent Collections Report

One of the largest hurdles over the next few months will be bridging any gap between buyers and sellers. Some buyers believe that they will get steep discounts on pricing because of COVID-19. This expectation does not match the sentiment of sellers or the current data as collections remain high, vacancy remains low, and rents remain relatively unchanged. As we keep in close contact with lenders and MMCC, we have found there to be many sources for debt with the only caveats being tighter credit requirements.