Denver Mayor Michael Hancock at State of the Cities 2020
Kathleen Lavine, Denver Business Journal
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You may be telling yourself you’re going to wait to move – maybe you’re hoping mortgage rates will come down, prices will fall, or the market will feel a little easier.
And honestly? A lot of people feel that way right now. But here’s what some are starting to realize.
Waiting doesn’t usually fix the thing that made you want to move in the first place.
Your family still desperately needs more room. Your empty nest still feels too…empty.
Your parents or grandparents still need you to live closer.
You just got married… or divorced.
Your vision of retirement has you living somewhere else.
Eventually, life can reach a point where waiting feels harder than moving.
That’s why some people are still deciding to buy right now, even in today’s market. Not because conditions are perfect. But because the life changes behind their move never really went away.
And maybe that’s exactly where you are too. If so, you’re certainly not alone.
Data from the National Association of Realtors (NAR) shows 1 in 5 buyers last year said they felt like they had to purchase a home at that time, no matter the market.
That’s an important reminder right now. Sure, the dollars and cents of your move have to make sense for you. But big life changes happen whether mortgage rates and home prices are high, low, or somewhere in between.
And those big life events happen more than you may think. NAR says roughly 22.5 million people experience major life changes in a typical two-year span (see graph below):
These are exactly the kinds of things that can change how much space you need, where you want to live, or what kind of lifestyle makes sense now. Chen Zhao, Head of Economics Research at Redfin, explains:
“Life doesn’t stand still—people get new jobs, grow their families, downsize after retirement, or simply want to live in a different neighborhood.”
And that’s what makes waiting so hard. Every month you spend hoping the market changes is another month living in a house that no longer works for your life. It’s stressful to feel stuck. And that feeling usually doesn’t disappear.
But while affordability is still a challenge, there may still be a way for you to make your move.
The number of homes for sale has been growing for 4 straight years (see graph below). That means more homes to choose from and, in some markets, more room to negotiate than buyers had just a few years ago.
That doesn’t mean moving is suddenly easy. But it does mean some buyers are finding ways to make a move work. So, if you’ve been putting your plans on hold, maybe the question isn’t just:
“What’s the market doing?” or “When will it get better?”
Maybe ask yourself this, too: “Can I still live where I’m at right now and make it work?”
If the answer to that second question is “no,” it may be worth having a conversation about what your options look like today – despite where rates or prices are. You could find your move is still possible after all. With more homes for sale, there’s a better chance to find one that fits your life (and your budget) right now.
Life changes. Priorities shift. Families grow. Kids move out. Careers evolve. And eventually, the house you’re in may stop fitting the life you’re living.
If that’s been weighing on you lately, talk to an agent about what your options could realistically look like today, no matter where rates or prices are.
Life can’t always wait for perfect market conditions. Maybe you don’t have to either.
Summer is finally here, and there’s no better time to get outside and explore everything Colorado has to offer with your four-legged companion. Whether your pup loves hiking, swimming, or simply joining you on a sunny patio, we’ve rounded up some of our favorite dog-friendly activities around the Denver metro area.
A local favorite for both people and pups, Cherry Creek State Park offers miles of trails, open space, and a large off-leash dog area where dogs can run, play, and even splash in the water. It’s the perfect place to spend a summer morning.
Located in Lakewood, Bear Creek Dog Park features wide-open fields, creek access, and plenty of room for dogs to socialize. Bring a tennis ball and let your pup burn off some energy while enjoying the beautiful mountain views.
Looking to escape the summer heat? Head up to Evergreen, Georgetown, or Idaho Springs for cooler temperatures and dog-friendly hiking trails. Colorado’s mountain towns offer plenty of opportunities for outdoor adventure and picturesque photo opportunities.
Many Denver-area restaurants and breweries welcome dogs on their patios. Enjoy a meal, a cold drink, or a cup of coffee while your pup relaxes by your side. Don’t forget to ask for a water bowl and a treat!
If your dog enjoys the water, summer is the perfect time to introduce them to paddleboarding. Lakes such as Chatfield Reservoir offer great opportunities for a relaxing day on the water with your furry first mate.
One of Denver’s most iconic parks, Washington Park offers beautiful walking paths, open green spaces, and plenty of opportunities to enjoy an evening walk with your dog while soaking up the summer weather.
After a day of adventure, stop by a local pet bakery or grab a pup cup from your favorite coffee shop. A little treat is the perfect way to reward your dog for being the best adventure buddy around.
Before heading out, keep these warm-weather reminders in mind:
We hope you and your pup have an amazing summer filled with sunshine, adventure, and plenty of tail wags. If you discover a new favorite dog-friendly spot around Colorado, we’d love to hear about it!
Happy exploring! 🐶☀️
You may be telling yourself you’re going to wait to move – maybe you’re hoping mortgage rates will come down, prices will fall, or the market will feel a little easier.
And honestly? A lot of people feel that way right now. But here’s what some are starting to realize.
Waiting doesn’t usually fix the thing that made you want to move in the first place.
Your family still desperately needs more room. Your empty nest still feels too…empty.
Your parents or grandparents still need you to live closer.
You just got married… or divorced.
Your vision of retirement has you living somewhere else.
Eventually, life can reach a point where waiting feels harder than moving.
That’s why some people are still deciding to buy right now, even in today’s market. Not because conditions are perfect. But because the life changes behind their move never really went away.
And maybe that’s exactly where you are too. If so, you’re certainly not alone.
Data from the National Association of Realtors (NAR) shows 1 in 5 buyers last year said they felt like they had to purchase a home at that time, no matter the market.
That’s an important reminder right now. Sure, the dollars and cents of your move have to make sense for you. But big life changes happen whether mortgage rates and home prices are high, low, or somewhere in between.
And those big life events happen more than you may think. NAR says roughly 22.5 million people experience major life changes in a typical two-year span (see graph below):
These are exactly the kinds of things that can change how much space you need, where you want to live, or what kind of lifestyle makes sense now. Chen Zhao, Head of Economics Research at Redfin, explains:
“Life doesn’t stand still—people get new jobs, grow their families, downsize after retirement, or simply want to live in a different neighborhood.”
And that’s what makes waiting so hard. Every month you spend hoping the market changes is another month living in a house that no longer works for your life. It’s stressful to feel stuck. And that feeling usually doesn’t disappear.
But while affordability is still a challenge, there may still be a way for you to make your move.
The number of homes for sale has been growing for 4 straight years (see graph below). That means more homes to choose from and, in some markets, more room to negotiate than buyers had just a few years ago.
That doesn’t mean moving is suddenly easy. But it does mean some buyers are finding ways to make a move work. So, if you’ve been putting your plans on hold, maybe the question isn’t just:
“What’s the market doing?” or “When will it get better?”
Maybe ask yourself this, too: “Can I still live where I’m at right now and make it work?”
If the answer to that second question is “no,” it may be worth having a conversation about what your options look like today – despite where rates or prices are. You could find your move is still possible after all. With more homes for sale, there’s a better chance to find one that fits your life (and your budget) right now.
Life changes. Priorities shift. Families grow. Kids move out. Careers evolve. And eventually, the house you’re in may stop fitting the life you’re living.
If that’s been weighing on you lately, talk to an agent about what your options could realistically look like today, no matter where rates or prices are.
Life can’t always wait for perfect market conditions. Maybe you don’t have to either.
Former Denver Mayor Michael Hancock is jumping into the real estate game.
Last week, Hancock completed what he hopes will be the first transaction building a portfolio of real estate holdings. He purchased the historic office building at 2413 N. Washington St. in Denver’s Five Points neighborhood, known as the Triangle Building.
Hancock bought the 7,600-square-foot building for just over $1.4 million, records show.
He served three terms as Denver’s mayor, from 2011 to 2023. Since then, Hancock has worked as a consultant, mostly in the realm of politics. Because the bulk of his career has been in the public sector, Hancock said it’s time for him to catch up financially, which he plans to do by investing in real estate.
“Real estate is still one of the more sure investments you can make,” Hancock said. “We’re going to continue to look and speculate and create opportunities with partners, and hopefully continue to expand. Once you get the bug and try to figure out how to do these things, the key would be to keep growing and hopefully amassing a nice portfolio.”
Starting with the 2413 N. Washington building made sense because Hancock already had a relationship with the previous owner.
He bought the property from the estate of Carl Bourgeois, a legendary Colorado developer known for his work to preserve and revitalize the historically Black area of Five Points. Bourgeois’ company, Civil Technology, also worked on the Denver International Airport, the Stapleton/Central Park Redevelopment Project, the Webb Municipal Office Building and the Denver Art Museum expansion, according to the company’s website.
Even before he was mayor, Hancock considered Bourgeois a friend, he said, calling Bourgeois someone he admired and who you couldn’t spend time in Five Points without knowing. Hancock grew up in the nearby Whittier neighborhood and said he spent a lot of his time there in his early twenties.
Michelle Glass, principal with Glass Properties Group at KW Commercial, represented Bourgeois’ daughters. She said Hancock was the ideal buyer because he won’t simply leave the building to flounder.
“What I was really looking for was to find an investor who was going to do something with the building,” Glass said. “In commercial real estate, especially with office, it’s definitely a buyer’s market, and we’re seeing a lot of vacant office space, as well as some vacant retail space in Five Points. So it was really exciting to be able to sell it to a buyer that is actually going to purchase that and do something with the building — reinvest in the building, renovate it.”
Glass, an experienced agent in the area, said it’s a great time to buy in Five Points because cap rates are high since building prices have been dampened since the Covid-19 pandemic.
“This will be a good thing for the community, because now new entrepreneurs and new investors can come in and do something and reuse some of these buildings,” she said. “To see the mayor come in and take a value-add building and reuse it for something that’s going to be profitable and great for the community is an exciting thing.”
Before Bourgeois bought the building in 1989, it had been used as an icehouse. He renovated it into office space.
Hancock now plans to renovate again, preserving historic elements while refreshing the space. He plans to lease several office suites and add co-working space, a cafe and a garden area so people can work outside.
“We plan to program it as well to have maybe some discussions, speak easy-type activity with guest speakers and things of that nature,” Hancock said.
He is determining what the renovation will cost, Hancock said. He and his fiancée are the majority owners of the property, and they have three silent partners, he said.
Part of the deal included seller financing, Glass said, which helped make the sale more favorable for both parties.
For Hancock, Five Points is a target area as he continues his real estate career.
“It’s an important area,” he said. “It has been gentrified. We want to create some ownership down there again and continue to create diversity and opportunities for everyone down there. I want to be a part of that. …Five Points is burning to continue to get better.”
The Denver area’s population is still climbing, though the pace is slowing as international migration pulls back and more residents leave for other states.
The market’s population grew by 0.4% from July 2024 to July 2025, according to the latest U.S. Census Bureau estimates. The population for the 10-county metropolitan area now stands at 3.09 million.
Denver maintained its spot as the 19th-largest metropolitan area, ranking just behind San Diego, California, and ahead of Orlando, Florida.
While Denver continues to grow, the pace noticeably cooled in 2025. The Mile High City gained 10,945 people between July 2024 and July 2025, down from the 49,814 residents added a year prior.
Natural population change remained a consistent source of support. Births exceeded deaths by about 14,000 people last year, marking the strongest gains recorded since the onset of the coronavirus pandemic.
International migration, largely from South and Central America, has driven most of Denver’s population growth in recent years, peaking at 40,498 arrivals in 2024. However, those gains slowed to 11,480 arrivals in 2025.
Domestic migration continues to be the primary drag on population growth. Losses accelerated in 2025, with roughly 14,600 residents leaving Denver for other metropolitan areas or states.
Denver’s domestic migration grew rapidly in the years following the Great Recession, as the market was seen as an attractive alternative to expensive coastal areas. But after the pandemic broke out, Denver lost its relative affordability, as the cost of living increased. As a result, fewer people are moving to the area.
Slower population growth has implications for Denver’s housing and commercial real estate markets. Continued net outmigration may limit near-term demand growth, and the housing market has seen prices decline in the past year.
Similarly, multifamily rents remain under pressure as vacancies hover near record highs, according to CoStar data.
While population growth in Denver has slowed relative to the booming years following the Great Recession, the growth rate has consistently outpaced the national rate in every decade since the 1930s.
According to Google Trends, online searches for down payment information recently hit an all-time high. And that’s a clear sign more buyers are trying to figure out what they really need to save before making a move (see graph below):
If you’re wondering the same thing, you can always turn to the internet for answers. But a lot of the time, it’s better to ask a local expert. Because here’s what a pro would tell you.
The idea that you need 20% down to buy a home is one of the biggest misconceptions around the homebuying process. And the data debunks the myth.
While there are benefits to putting that much money down, most first-time buyers put down far less.
Here’s why. Unless it’s stated by your lender, you typically don’t have to have a 20% down payment. There are even some loan options designed to help you get into a home with a much smaller upfront cost. As the Mortgage Reports explains:
“The amount you need to put down will depend on a variety of factors, including the loan type and your financial goals. If you don’t have a large down payment saved up, don’t worry—there are plenty of options available, and you don’t need to put down the traditional 20% . . . many homebuyers are able to secure a home with as little as 3% or even no down payment at all . . .”
For example, FHA loans allow down payments as low as 3.5%, while VA and USDA loans offer zero down payment options for qualified applicants, like Veterans.
And those options are just one reason so many first-time buyers are able to buy without a 20% down payment.
So, if buyers aren’t doing 20%, how much do they actually put down?
According to the National Association of Realtors (NAR), the median down payment for first-time homebuyers is only 10%. That’s half of what you probably expected.
That means if you’re aiming to save 20% because you think you have to, you may be setting a timeline that’s longer than necessary.
And here’s some more good news. It’s not only that you may be able to buy with less money down than you thought, but there are also options to help you get to your down payment goal even faster.
There are a lot of programs designed to help you save for a down payment – and they can make a big difference in how fast you hit your savings target. Unfortunately, buyers don’t realize how many there are, or that they may qualify for help.
Research from Realtor.com shows almost 80% of first-time homebuyers qualify for down payment assistance (DPA), but only 13% actually use it (see chart below):
And that’s another big miss holding would-be buyers like you back.
In the U.S., there are over 2,600 homeownership programs available, many offering significant financial support. As Down Payment Resource shares:
“With an average benefit of $18,000, down payment assistance (DPA) remains one of the most essential tools for addressing the nation’s affordability challenges. Programs continue to expand in scope, serving a broader range of incomes, property types and borrower needs, including first-generation, military and repeat buyers.”
Imagine how much further your savings could go with an extra $18,000 you can use to buy. In some cases, you may even be able to stack multiple programs, giving what you’ve saved an even bigger boost.
The simple truth is: most first-time buyers don’t put 20% down. And if you’ve been waiting to buy until you have that saved, you may be setting a timeline that’s longer than necessary.
To find out what you really need to save and if you qualify for any help, connect with a trusted lender who can walk you through your options. You may be able to buy sooner than you thought.
Spring is the perfect time to give your home a quick refresh—and the best part is, you don’t need a full renovation to make a big impact. These simple weekend projects can dramatically improve your home’s curb appeal and overall value.
1. Add Fresh Mulch & Define Garden BedsA fresh layer of mulch instantly makes your yard look clean and well-maintained. It also helps retain moisture and prevent weeds. Take it a step further by redefining the edges of your garden beds for a crisp, polished look.
2. Power Wash for an Instant RefreshWinter can leave behind dirt, salt, and grime. Power washing your driveway, walkway, siding, and even your fence can make everything look brand new in just a few hours.
3. Upgrade Your House NumbersThis small detail makes a surprisingly big difference. Modern, easy-to-read house numbers add a sleek touch and improve visibility—especially important for guests and deliveries.
4. Add Outdoor LightingSimple solar pathway lights or uplighting can elevate your home’s exterior and add a sense of warmth and security. It also helps your home stand out during evening hours.
5. Plant Seasonal FlowersNothing says spring like fresh flowers. Add pops of color with planters near your front door or incorporate seasonal blooms like tulips and pansies into your landscaping.
Why It MattersFirst impressions matter—especially in real estate. Homes with strong curb appeal attract more interest, both from guests and potential buyers. These quick, affordable upgrades can make your home feel more inviting and well cared for.
The median home sale price in Denver has fallen every month since October, and a surge in available apartments and landlord concessions may be playing an outsized role.
According to data from Homes.com, the residential affiliate of CoStar, Denver saw the largest February median sales drop in more than eight years — 4% to $575,000 — yet remains one of the most expensive housing markets in the nation, ranking ninth among the top 40 metropolitan areas. The median home price has dropped every month since October.
“Renting has become significantly more accessible in the past couple of years for most Coloradans,” Cooper Thayer, an agent with The Thayer Group in Denver, told CoStar News. “That creates a diminished demand for for‑sale housing.”
He explained that in Denver, it costs more each month to own a home than it does to rent one. In many parts of the metropolitan area, owning a home costs about 70% to 100% more than renting — a gap that has reshaped housing demand.
That difference has spurred apartment development and intensified competition among landlords, helping to ease pressure on rents.
CoStar data shows that the asking rent in the Denver metropolitan area is $1,795 per month, down 3.4% from the previous year. Rent growth has been under pressure for the past two years, largely due to a surge in new supply.
A record 18,000 apartments were completed in 2024, followed by another 12,200 units in 2025, according to the data.
More than 60% of properties contacted by CoStar’s research division reported offering some form of free rent in February — a level that has held steady since last fall and represents the highest concession usage on record in the Denver metropolitan area.
In supply‑heavy parts of the market, renters can now find leases offering up to 14 weeks of free rent on a one‑year term, though 10 to 12 weeks has become standard. That’s up sharply from the six to eight weeks of free rent typically offered a year ago.
The growing appeal of renting has also spilled over into the condo market.
According to Athena Brownson, with Compass in Denver, condos have been especially affected, as buyers weigh ownership costs against increasingly competitive rental options.
“The condo market in particular has taken a huge hit,” Brownson said. “Buyers want single‑family or even a duplex so they can enjoy outdoor space, and as the demand for single‑family increases, the demand for condos continues to decline and is absolutely causing condo prices to fall.”
Homes.com data shows Denver’s median condo price fell 9.7% year over year in February to $299,900. Condo sales were flat during the month, while inventory jumped 53.2% compared with a year earlier — the largest growth rate among property types.
“So, there is great opportunity out there for purchasing condos at great prices,” Brownson said, “but the buyer has to want that lifestyle.”
Thayer expects the broader housing market — including rentals — to remain stable heading into this spring.
He noted that activity on the for‑sale side remains strongest among homes that are priced correctly and well prepared, even as renters enjoy increased leverage.
“If there’s one thing that’s moving fast,” Thayer said, “it’s those well‑positioned, well‑priced, well‑presented listings that sellers and their brokers are being very strategic about how they’re presenting.”
“I’ve always said that Denver is a very resilient market when it comes to how we compare to other areas around the