Arapahoe County homeownership decreases

Courtesy of Gavop.com

 

Recent data from a research website show that homeownership decreased in Arapahoe County between 2009 and 2015 across most age groups.

The exception was those 60 and older, according to Gavop.com, which analyzed long-term prices and real estate trends across the United States.

In Arapahoe, the highest decrease came from those under 35, a group in which ownership reduced by 15.8 percent. It went down by 9.4 percent for 35-44 and 5.5 percent for ages 45-59. There was an increase by 20 percent for people older than 60.

The numbers illustrate how Arapahoe County is following the general U.S. trend, especially among young adults. Arapahoe has seen a higher decrease in homeownership than Colorado at large and the nation for those age 45-59.

“Such a decrease in homeownership shows that Arapahoe County is experiencing interesting market trends where individuals are not obtaining ownership of their home until later in life,” said Gavop.com analyst Kevin Pryor. “The reduction indicates that adults are either choosing not to purchase their homes or are having trouble doing so, as compared to the past.”

Experts believe the decline is partially linked to the recession, which forced many young people to move back home in order to save money.

The fall in homeownership comes with financial costs with renters missing out on low mortgage rates and facing rising rents.

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