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 2016 pdf Download Full Report PDF Download Snapshot

Monthly Economic Indicators

Consumer confidence for the Mountain Region Index, which includes Colorado, decreased in between January and February. The index fell to 97.9 in February from the January revised level of 105.2, decreasing 6.9 percent over-the-month. The index also fell 14.3 percent over-the-year.

The National Association of Realtors reported that median home prices throughout the Metro Denver area increased between the third and fourth quarters of 2015. The Boulder MSA reported a 4.7 percent increase ($469,900) in home prices over-the-quarter, while the Denver-Aurora MSA reported a 0.1 percent increase over-the-quarter to $353,500.

Housing foreclosures throughout the Metro Denver area rose in five of the seven counties between January 2015 and 2016. Metro Denver recorded an 11.1 percent increase in foreclosures in January compared with the previous year, but a 27.7 percent decrease over the previous month, representing 92 fewer foreclosures. 

Click here for the March 2015 Benchmark Employment Revision released by the Colorado Department of Labor. 

Economic Indicators March 2016 2016 YTD

Nonfarm Employment Growth

-1,800 Decrease

Employment down 0.1% from Nov. to Dec.

+41,100 Increase

YTD employment up 2.7% through Dec.

% Companies Hiring (Denver Area)

23 % Increase

Companies expecting to add workers increased from 4Q 2015 to 1Q 2016

23 % Increase

YTD average up 3 percentage points compared with 2015

Unemployment Rate

3.1 % Decrease

Unemployment down 0.1 percentage points from Nov. to Dec.

3.8 % Decrease

Down from 2014 YTD average of 4.8%

Initial Unemployment Insurance Claims

-27 % Decrease

Claims decreased from Nov. to Dec.

-5.9 % Decrease

YTD average claims decreased through Dec. 2015

Total Retail Sales

4.6 % Increase

Metro sales increased from April to May

2.7 % Increase

YTD sales up through May 2015

Consumer Confidence Index

97.9 Decrease

Index down 6.9% from Jan.to Feb.

101.6 Decrease

YTD average down 10.1% through Feb. 2016

Hotel Occupancy

62.7 % Increase

Increased 7.2 percentage points from Dec. to Jan.

62.7 % Decrease

YTD occupancy down 3.2 percentage points from last year

DIA Passengers

4.5 % Increase

Passengers increased from Nov. to Dec.

1 % Increase

YTD passengers increased through Dec. 2015

Bloomberg Colorado Index

473.3 Increase

Index up 2.2% from Jan. to Feb.

-4.8 % Decrease

YTD return through Feb. 2016

Dow Jones / Industrial Average

16,516.5 Increase

Index up 0.3% from Jan. to Feb.

-5.2 % Decrease

YTD return through Feb. 2016

Home Sales (Closed)

4,170 Increase

Sales up 14.7% from Nov. to Dec.

55,509 Increase

YTD sales up 2.7% through Dec. 2015

Median Home Price (Denver-Aurora MSA)

$353,000 Increase

Up 0.1% from 3Q 2015 to 4Q 2015

$353,600 Increase

YTD price 14% higher through 4Q 2015

Foreclosures

240 Decrease

Down 27.7% from Dec. to Jan.

240 Increase

Up 11.1% YTD through Jan. 2016

Residential Building Permits (Total)

2,207 Increase

Permits increased 14.6% from Nov. to Dec.

18,885 Increase

YTD permits up 13.1% through Dec. 2015

Apartment Vacancy Rate

6.8 % Increase

Vacancy increased 1.8 percentage points from 3Q 2015 to 4Q 2015

5.3 % Increase

YTD average up 0.7 percentage points from last year

Office Vacancy Rate (with Sublet)

10 % Decrease

Vacancy rate down 0.3 percentage points from 3Q 2015 to 4Q 2015

-0.8 percentage points Decrease

4Q 2015 vacancy rate down from 10.8% one year ago

Industrial Vacancy Rate (with Sublet)

3.5 % Increase

Vacancy rate up 0.5 percentage points from 3Q 2015 to 4Q 2015

+0.2 percentage points Increase

4Q 2015 vacancy rate up from 3.3% one year ago

Retail Space Vacancy Rate (with Sublet)

5.1 % No change

Vacancy rate unchanged from 3Q 2015 to 4Q 2015

-0.3 percentage points Decrease

4Q 2015 vacancy rate down from 5.4% one year ago

Economic Indicators March 2016 2016 YTD