Denver Draws Millennials Despite Rising Home Prices

A recent study from the National Association of Realtors (NAR) found that Denver ranks in the top 10 cities attracting and retaining Millennials.

Despite its popularity among Millennials, Denver faces an affordability problem. The Denver Post reports that, according to the NAR, only 10 percent of recent Millennial transplants bought a home in the area, and the group’s median income was only enough to afford 6 percent of houses on the market in March.

But supply shortages are likely to remain chronic given the demographic trends. A separate study from Zillow predicts the pressure on the entry-level home market will only get more intense in the years ahead unless builders find a way to ramp up production.

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