June 2022 MEI Snapshot
119.1
Index up 6.6 percent from April to May
$662,200
Up 7.2% from 4Q 2021 to 1Q 2022
1,849
Permits decreased 41.9% from March to April
Full Indicator Reports
June 2022 MEI
Monthly Key Insights
Unemployment Rate
The unemployment rate in Metro Denver fell to 3.1 percent in April, the lowest rate reported since February 2020.
National Consumer Prices
National consumer prices rose 8.3 percent over-the-year in April, the first slowdown in the pace of inflation since August 2021, but the 12th month in a row at or above 5 percent.
Home Price Index
The S&P/Case-Schiller Home Price Index for Denver increased 23.7 percent between March 2021 and 2022, the highest annual rate of growth since the index began in 1987.
Nonfarm Employment Growth
Current Month
Employment up 0.8% from March To April
14,400
Year-Over-Year
Employment up 5% from April 2021 to 2022
84,200
YTD
YTD employment up 5.3% through April
88,100
Manpower Net Employment (West Region)
Current Month
Net employment unchanged from 2Q 2022 to 3Q 2022
42%
Year-Over-Year
Net employment increased 15 percentage points from 3Q21 to 3Q22
42%
YTD
YTD average up 24 percentage points compared with 2021
44%
Unemployment Rate
Current Month
Unemployment down 0.5 percentage points from March to April
3.1%
Year-Over-Year
Unemployment down from April 2021 to 2022
-3.1 percentage points
YTD
Down 2.7 percentage points from 2021 YTD average
3.6%
Initial Unemployment Insurance Claims
Current Month
Claims decreased from March to April
17.4%
Year-Over-Year
Claims decreased from April 2021 to 2022
-83.3%
YTD
YTD average claims decreased through April 2022
-92.1%
Total Retail Sales
Current Month
National sales increased from February to March
17.7%
Year-Over-Year
National sales increased from March 2021 to 2022
7.3%
YTD
YTD sales increased through March 2022
12.3%
Mountain Region Consumer Confidence Index
Current Month
Index up 6.6 percent from April to May
119.1
Year-Over-Year
Index down from May 2021 to 2022
-8.7%
YTD
YTD average up 1.7% through May 2022
114.0
Hotel Occupancy
Current
Increased 3.5 percentage points from March to April
66.6%
Year-Over-Year
Occupancy increased from April 2021 to 2022
14.4 percentage points
YTD
YTD occupancy up from last year
60.0%
Denver International Airport Passengers
Current Month
Passengers down from March to April
-2.8%
Year-Over-Year
Passengers up from April 2021 to 2022
24.7%
YTD
YTD passengers increased through April 2022
43.2%
Bloomberg Colorado Index
Current Month
Index down 3.9% from April to May
702.6
Year-Over-Year
Index down from May 2021 to 2022
-14.8%
YTD
YTD return down through May 2022
-20.6%
Dow Jones Industrial Average
Current Month
Index unchanged from April to May
32,990.1
Year-Over-Year
Index down from May 2021 to 2022
-4.5%
YTD
YTD return down through May 2022
-9.2%
Home Sales
Home Sales (closed)
Sales up 4.2% from March to April
5,238
Year-Over-Year
Sales down from April 2021 to 2022
-6.8%
YTD
YTD sales down 3.8% from last year
17,236
Median Home Price (Denver-Aurora MSA)
Current Month
Up 7.2% from 4Q 2021 to 1Q 2022
$662,200
Year-Over-Year
Price up from 1Q 2021 to 1Q 2022
19.4%
YTD
YTD price 19.4% higher through 1Q 2022
$662,200
Foreclosures
Current Month
Down 38.8% from April to May
218
Year-Over-Year
Up from May 2021 to 2022
738.5%
YTD
Up 754.5% YTD through May 2022
1,145
Residential Building Permits (Total)
Current Month
Permits decreased 41.9% from March to April
1,849
Year-Over-Year
Permits down from April 2021 to April 2022
-44.3%
YTD
YTD permits up 6.5% through April 2022
9,302
Apartment Vacancy Rate
Current Month
Vacancy unchanged from 4Q 2021 to 1Q 2022
4.3%
Year-Over-Year
Vacancy decreased from 1Q 2021 to 1Q 2022
-1.2 percentage points
YTD
YTD average down 1.2 percentage points from last year
4.3%
Office Vacancy Rate (with Sublet)
Current Month
Vacancy rate down 0.1 percentage points from 4Q 2021 to 1Q 2022
13.9%
Year-Over-Year
1Q 2022 vacancy up from 13.1% one year ago
+0.8 percentage points
YTD
1Q 2022 vacancy up from 13.1% one year ago
+0.8 percentage points
Industrial Vacancy Rate (with Sublet)
Current Month
Vacancy rate increased 0.1 percentage point from 4Q 2021 to 1Q 2022
5.4%
Year-Over-Year
1Q 2022 vacancy down from 6.1% one year ago
-0.7 percentage points
YTD
1Q 2022 vacancy down from 6.1% one year ago
-0.7 percentage points
Retail Space Vacancy Rate (with Sublet)
Current Month
Vacancy rate decreased 0.1 percentage points from 4Q 2021 to 1Q 2022
4.7%
Year-Over-Year
1Q 2022 vacancy down from 5.4% one year ago
-0.7 percentage points
YTD
1Q 2022 vacancy down from 5.4% one year ago
-0.7 percentage points