November 2022 MEI Snapshot
112.3
Mountain Region Consumer Confidence Index up 12.1 percent from September to October
$695,800
Median Home Price (Denver-Aurora MSA) Up 5.1% from 1Q 2022 to 2Q 2022
4.5%
Retail Space Vacancy Rate (with Sublet) decreased 0.2 percentage points from 2Q 2022 to 3Q 2022
Full Indicator Reports
November 2022 MEI
Monthly Key Insights
Unemployment Rate
Initial unemployment insurance claims in Metro Denver fell 8.2 percent from August to September.
National Retail Sales
National retail sales are up 10.8 percent over-the-year with 13 of the 14 categories increasing.
Mountain Region Consumer Confidence
Mountain region consumer confidence rose 12.1 percent in October compared with a 4.9 percent national decline.
Nonfarm Employment Growth
Current Month
Employment was down 0.2% from August to September
-4,400
Year-Over-Year
Employment up 3.7% from September 2021 to 2022
63,300
YTD
YTD employment up 4.6% through September
77,500
Manpower Net Employment (West Region)
Current Month
Net employment fell from 3Q 2022 to 4Q 2022
38%
Year-Over-Year
Net employment decreased 11 percentage points from 4Q21 to 4Q22
38%
YTD
YTD average up 15 percentage points compared with 2021
42%
Unemployment Rate
Current Month
Unemployment down 0.1 percentage points from August to September
3.2%
Year-Over-Year
Unemployment down from September 2021 to 2022
-1.4 percentage points
YTD
Down 2.4 percentage points from 2021 YTD average
3.4%
Initial Unemployment Insurance Claims
Current Month
Claims decreased from August to September
-8.2%
Year-Over-Year
Claims decreased from September 2021 to 2022
-1.2%
YTD
YTD average claims decreased through September 2022
-85.8%
Total Retail Sales
Current Month
National sales increased from July to August
1.7%
Year-Over-Year
National sales increased from August 2021 to 2022
10.8%
YTD
YTD sales increased through August 2022
10.3%
Mountain Region Consumer Confidence Index
Current Month
Index up 12.1 percent from September to October
112.3
Year-Over-Year
Index down from October 2021 to 2022
-1.8%
YTD
YTD average down 7.6% through October 2022
106.6
Hotel Occupancy
Current
Increased 1.3 percentage points from August to September
78.7%
Year-Over-Year
Occupancy increased from September 2021 to 2022
8.5 percentage points
YTD
YTD occupancy up from last year
70.0%
Denver International Airport Passengers
Current Month
Passengers down from July to August
-1.9%
Year-Over-Year
Passengers up from August 2021 to 2022
6.5%
YTD
YTD passengers increased through August 2022
21.5%
Bloomberg Colorado Index
Current Month
Index up 1.7% from September to October
652.1
Year-Over-Year
Index down from October 2021 to 2022
-28.2%
YTD
YTD return down through October 2022
-26.3%
Dow Jones Industrial Average
Current Month
Index up 14% from September to October
32,733.0
Year-Over-Year
Index down from October 2021 to 2022
-8.6%
YTD
YTD return down through October 2022
-9.9%
Home Sales
Home Sales (closed)
Sales down 13.2% from August to September
4,002
Year-Over-Year
Sales down from September 2021 to 2022
-33.9%
YTD
YTD sales down 14.2% from last year
38,234
Median Home Price (Denver-Aurora MSA)
Current Month
Up 5.1% from 1Q 2022 to 2Q 2022
$695,800
Year-Over-Year
Price up from 2Q 2021 to 2Q 2022
12.5%
YTD
YTD price 15.8% higher through 2Q 2022
$679,000
Foreclosures
Current Month
Down 26% from September to October
151
Year-Over-Year
Up from October 2021 to 2022
147.5%
YTD
Up 431.4% YTD through October 2022
2,152
Residential Building Permits (Total)
Current Month
Permits increased 13% from August to September
2,178
Year-Over-Year
Permits down from September 2021 to September 2022
-20.6%
YTD
YTD permits down 8.1% through September 2022
20,272
Apartment Vacancy Rate
Current Month
Vacancy increased from 1Q 2022 to 2Q 2022
4.8%
Year-Over-Year
Vacancy increased from 2Q 2021 to 2Q 2022
+1.1 percentage points
YTD
YTD average unchanged from last year
4.6%
Office Vacancy Rate (with Sublet)
Current Month
Vacancy rate increased 0.4 percentage points from 2Q 2022 to 3Q 2022
14.3%
Year-Over-Year
3Q 2022 vacancy up from 13.9% one year ago
+0.4 percentage points
YTD
3Q 2022 vacancy up from 13.9% one year ago
+0.4 percentage points
Industrial Vacancy Rate (with Sublet)
Current Month
Vacancy rate increased 0.9 percentage points from 2Q 2022 to 3Q 2022
5.7%
Year-Over-Year
3Q 2022 vacancy down from 6.2% one year ago
-0.5 percentage points
YTD
3Q 2022 vacancy down from 6.2% one year ago
-0.5 percentage points
Retail Space Vacancy Rate (with Sublet)
Current Month
Vacancy rate decreased 0.2 percentage points from 2Q 2022 to 3Q 2022
4.5%
Year-Over-Year
3Q 2022 vacancy down from 4.9% one year ago
-0.4 percentage points
YTD
3Q 2022 vacancy down from 4.9% one year ago
-0.4 percentage points