Monthly Economic Indicators

This monthly report provides a snapshot of metro area economic activity in labor and employment, the consumer sector, and residential and commercial real estate.

March 2020 PDF Download Snapshot

Monthly Economic Indicators

Home sales in Metro Denver totaled 3,293 in January, up 3.9 percent from the same time last year. 

The CPI for the Denver-Aurora-Lakewood rose 3.8 percent over-the-year to 271 in January. 

The average hotel occupancy rate in Metro Denver increased 0.4 percentage points over-the-year to 60.9 percent in the month of January. The average hotel room rate rose 0.8 percent to $127.43 per night.

Economic Indicators March 2020 Year-Over-Year YTD

Nonfarm Employment Growth

4,300 Increase

Employment up 0.2% from November to December

40,300 Increase

Employment up 2.4% from December 2018 to 2019

31,600 Increase

YTD employment up 1.9% through December

% Companies Hiring (Denver Area)

26 % Increase

Companies hiring rose 9 percentage points from 4Q 2019 to 1Q 2020

26 % Increase

Companies hiring rose 4 percentage points from 1Q 2019 to 1Q 2020

26 % Increase

YTD average up 4 percentage points compared with 2019

Unemployment Rate

2.3 % Decrease

Unemployment down 0.1 percentage points between Nov. and Dec.

-1.3 percentage points Decrease

Unemployment down from December 2018 to 2019

2.7 % Decrease

Down 0.4 percentage points from 2018 YTD average

Initial Unemployment Insurance Claims

-8.9 % Decrease

Claims decreased from November to December

-5.4 % Decrease

Claims decreased from December 2018 to 2019

2.5 % Increase

YTD average claims increased through December 2019

Total Retail Sales

10.8 % Increase

National sales increased from November to December

5.7 % Increase

National sales increased from December 2018 to 2019

3.6 % Increase

YTD sales rose through December 2019

Consumer Confidence Index

142 Increase

Index up 0.6 percent from January to February

9.6 % Increase

Index up from February 2019 to 2020

141.6 Increase

YTD average up 9% through February 2020

Hotel Occupancy

60.9 % Increase

Increased 5.2 percentage points from December 2019 to January 2020

0.4 percentage points Increase

Occupancy increased from January 2019 to January 2020

60.9 % Increase

YTD occupancy up from last year

DIA Passengers

9.1 % Increase

Passengers up from November to December

10.8 % Increase

Passengers up from December 2018 to 2019

7.0 % Increase

YTD passengers increased through December 2019

Bloomberg Colorado Index

543.5 Decrease

Index down 11% from January to February

4.1 % Increase

Index up from February 2019 to 2020

-10.5 % Decrease

YTD return down through February 2020

Dow Jones / Industrial Average

25,409.4 Decrease

Index down 10.1% from January to February

-2.0 % Decrease

Index down from February 2019 to 2020

-11.0 % Decrease

YTD return down through February 2020

Home Sales (Closed)

3,293 Decrease

Sales down 25.8% between December 2019 and January 2020

3.9 % Increase

Sales up from January 2019 to 2020

3,293 Increase

YTD sales up 3.9% through January 2020

Median Home Price (Denver-Aurora MSA)

$458,000 Decrease

Down 1.7% from 3Q 2019 to 4Q 2019

4.5 % Increase

Price up from 4Q 2018 to 4Q 2019

$462,100 Increase

YTD price 2.7% higher through 4Q 2019

Foreclosures

215 Increase

Up 0.5% from November to December

-2.7 % Decrease

Down from December 2019 to 2020

2,747 Increase

Up 0.8% YTD through December 2019

Residential Building Permits (Total)

2,491 Increase

Permits increased 70% from November to December

-11.0 % Decrease

Permits down December 2018 to 2019

20,373 Decrease

YTD permits down 15.3% through December 2019

Apartment Vacancy Rate

5.3 % Increase

Vacancy increased 0.6 percentage points from 3Q 2019 to 4Q 2019

-0.5 percentage points Decrease

Vacancy decreased from 4Q 2018 to 4Q 2019

5.1 % Decrease

YTD average down 0.8 percentage points from last year

Office Vacancy Rate (with Sublet)

9.8 % Decrease

Vacancy rate down 0.1 percentage points from 3Q 2019 to 4Q 2019

-0.4 percentage points Decrease

4Q 2019 vacancy down from 10.2% one year ago

-0.4 percentage points Decrease

4Q 2019 vacancy down from 10.2% one year ago

Industrial Vacancy Rate (with Sublet)

5.2 % Decrease

Vacancy rate decreased 0.1 percentage points from 3Q 2019 to 4Q 2019

+1.1 percentage points Increase

4Q 2019 vacancy up from 4.1% one year ago

+1.1 percentage points Increase

4Q 2019 vacancy up from 4.1% one year ago

Retail Space Vacancy Rate (with Sublet)

4.7 % Increase

Vacancy rate increased 0.2 percentage points from 3Q 2019 to 4Q 2019

+0.6 percentage points Increase

4Q 2019 vacancy up from 4.1% one year ago

+0.6 percentage points Increase

4Q 2019 vacancy up from 4.1% one year ago

Economic Indicators March 2020 Year-Over-Year YTD