Front Range Commercial, LLC

11/27/2024

From Economist Elliot Eisenberg regarding electric vehicle sales:
For all the talk of a slowdown in U.S. electric vehicle sales, U.S. drivers purchased 346,000 battery-powered vehicles in 24Q3, a 5% Q-o-Q rise and an 11% Y-o-Y increase. EVs now comprise 9% of new car sales, the highest level on record. Tesla easily retained its EV sales crown by delivering 167,000 vehicles. However, its share is now 48% and continues to decline as more affordable, longer-range vehicles appear.

05/09/2024

Supply chain bottlenecks are much improved- Great news for our economy- JC

Superb Supply In another sign that inflation should soften, the NY Fed’s Global Supply Chain Pressure Index declined from -0.30 in March to -0.85 in April. It’s been below zero each of the last five m

04/25/2024

From economist Eliot Eisenberg:
Pre-Covid, income growth for the lowest income quartile was almost 5%/year, while for the other quartiles growth was 3.5%/year. By mid-2022, income growth for the bottom and second highest quartiles peaked at almost 8%/year but was nearly 6% for the other two quartiles. Now income growth is almost identical across all quartiles, ranging from 5.5% for the second lowest quartile to 4.9% for the top, suggesting labor shortages are dissipating.
Www.econ70.com

11/30/2021

Amazing apartment rent numbers for Colorado Springs- 21% increase in rent here since March 2020

Hi Jay,

After a wild 2021, rent growth is finally flattening out across the United States. In November, our national rent index increased a marginal 0.1%, the lowest growth rate we’ve measured all year. Prices have risen nearly 18% in 2021, but as we enter the slow winter season, the market is finally beginning to cool.

This month, rents fell in 53 of the nation’s 100 largest cities. Boise ID saw the largest decline for the second straight month (-3.7%), and prices fell in other fast-growing cities that saw major rent growth this year, like Spokane WA (-3.1%), and Reno NV (-3%). But they also fell in some of the nation’s largest and most expensive cities, like San Francisco (-2.7%), Seattle (-2.1%), and Boston (-1.9%).

For more analysis of the newest monthly data, check out our full December Rent Report.

Here are some highlights:
Rents in Colorado Springs decreased 1.9% month-over-month, compared to a 0.1% increase nationally. Month-over-month growth in Colorado Springs ranks #94 among the nation's 100 largest cities.
Year-over-year rent growth in Colorado Springs currently stands at 16.6%, compared to 4.9% at this time last year. Year-over-year growth in Colorado Springs ranks #49 among the nation's 100 largest cities. Rents in Colorado Springs are up by 21.2% since the start of the pandemic in March 2020.
Median rents in Colorado Springs currently stand at $1145 for a 1-bedroom apartment and $1453 for a two-bedroom.


Check out the full report here. And as a reminder, the full details of our rent estimate methodology are explained here.

If you have any questions or would like to hop on a call to discuss these findings, please let me know!

All the best,
Rob

05/29/2021

The Colorado Springs area has recovered nearly 90% of the jobs it lost during the COVID-19 pandemic and is on track to recover the rest by next month, if employment

11/10/2020

We are a hot market! Which brings this kind of increase in cost of living...

The sizzling hot Colorado Springs area housing market is making the area a much less affordable to place to live, according to a quarterly survey.

06/30/2020

This will be good for our summer economy and beyond

El Paso County's variance request to Colorado's current coronavirus public health order was approved by state officials Monday, along with Douglas County's request to increase event capacity.

10/23/2019

More great restaurant choices coming our way!

Another name is being added to the growing roster of Denver-area restaurants expanding to Colorado Springs.

06/28/2018

Good news! This will help downtown over time. Jay Carlson

An ambitious redevelopment plan for southwest downtown is moving forward again, which could lead to thousands of residences, offices, stores, restaurants and hotel rooms as part of a $2 billion

06/01/2018

Colorado Springs’ two Sears department stores were spared in the latest round of 63 store closings announcedThursday by Sears Holdings Corp., the parent company of Sears and Kmart.
Sears will continue to anchor the Chapel Hills Mall on Colorado Springs’ north side and the Broadmoor Towne Cent...

05/23/2018

This is a great article about the future of the mall as we know it today. I agree with their predictions and really like their depiction of what the layout of the mall will be and who the tenants will be by 2023.In order to survive our local malls and specifically the Citadel Mall will need to get creative with their excess parking areas in order to keep their properties viable. This article talks about adding apartments to mall properties,I think we should go a step further here and incorporate an office campus setting to include high public demand government offices like motor vehicle department,health dept,tax assessor office,etc. Outdoor entertainment is another use I think could be very successful on the mall property,instead of just carnivals why not have concerts,farmers markets,beer festivals,art festivals,etc. These uses would take advantage of the expansive parking areas and provide built in food and beverage support for these events.
The retail consumer will be the winner as the way we buy things and the places we buy them evolves in the coming years. Jay Carlson

By 2023, malls will include new uses and experiences while moving away from apparel, said CoreSight founder Deborah Weinswig. “Over the coming years, many malls will reshape their offerings, moving from a focus on apparel stores clustered around department store anchors, to more diverse networks o...

05/16/2018

The near future of grocery delivery. Jay Carlson