[email protected]

MDC Holdings, a 51-year-old Denver-based homebuilder with nearly a quarter of a million houses to its credit and a footprint that expands across the U.S., has agreed to a nearly $5 billion buyout offer from a Japanese firm. The homebuilder, founded by Larry Mizel in 1972 and parent of American Richmond Homes, announced the deal with Japanese homebuilder Sekisui House Ltd. on Thursday. Larry A. Mizel, chairman and CEO of M.D.C. Holdings A U.S. subsidiary of Sekisui will pay $63 a share in cash, a 19% premium to MDC’s…

Conditions are looking up for tenants in metro Denver and Boulder as more new apartments keep rolling into the market, keeping rents in check and providing more options for those looking for housing, according to a quarterly update from the Apartment Association of Metro Denver. The average rent for an apartment in the seven-county metro area, including Boulder, was $1,870 in the fourth quarter, which is down from $1,888 in the third quarter and not much above the average of $1,838 a year earlier. Two years ago, the…

Flight delays and cancellations continue to mount at Denver International Airport due to difficult weather conditions and despite “normal’ operations at the airport itself. “While the airport is experiencing cold temperatures, we ask that passengers check with their airlines before heading to the airport, arrive at least two hours before their boarding time and expect some delays if deicing procedures are in place,” said Ashley Forest, an airport spokesperson. FlightAware, a flight tracking website, reports 99 delayed…

A year ago, many economists were predicting a recession in 2023. It didn’t happen, and inflation has fallen sharply. The consensus outlook is a bit rosier, arguing that 2024 will also avoid a downturn. But a recession delayed is not one denied, economist Elliot Eisenberg argued before a large crowd of Denver area real estate agents gathered Thursday morning for the Denver Metro Association of Realtors Economic Summit. “Nothing is awful, but I do think that we get a recession,” said Eisenberg, who doubled down after his…

DISH Network had informed the state that it plans to lay off another 157 workers by early March, two months after it said it would let go of a larger group of 499 workers. The cuts will happen at the company’s headquarters at 9601 S. Meridian Blvd. in Douglas County, according to a Worker Adjustment and Retraining Notification Act letter filed with the Colorado Department of Labor and Employment on Monday. “The first employee notices are expected to occur during the 14-day period starting Jan. 8, with separations to occur…

Colorado drivers paid a premium for gasoline in early 2023 following the closure of the Suncor Refinery, but 2024 is welcoming them with some substantial discounts, including a handful of stations selling fuel for under $2 a gallon. A gallon of regular unleaded gasoline in metro Denver averaged $2.55 a gallon on Wednesday, while the statewide average was $2.69 a gallon and the U.S. average was $3.08, according to the AAA. Gas Buddy, a website that relies on consumers to report the latest prices, listed a half dozen…

Where a state ranks in terms of its population is a pretty good indicator of where it will rank in terms of the size of its economy relative to other states. For example, California has the largest population and the largest economy. Texas ranks second on each of those. For just over half of states, population and GDP rank line up precisely or are off by just one in either direction. Florida has the third largest population but the fourth largest economy. In contrast, New York now has the fourth largest population after…

Colorado business leaders aren’t ready to sing Happy Days just yet, but they are in a much better mood heading into this year than they were last, according to the latest Leeds Business Confidence Index from the University of Colorado Boulder. “Entering 2024, business confidence remains suppressed but is on the rise,” according to the report, which is published quarterly. The LCBI looks at six different categories and asks respondents what they expect over the next two quarters. An index score of 50 indicates an…

Metro Denver’s housing market faced a second year of tough sledding in 2023, with both closings and the dollar value of transactions down by about 18% compared to 2022, according to the Denver Metro Association of Realtors. Last year, the number of closings fell by 20.8%, but the value of transactions was down a smaller 12%, because of home prices rising in the first half of that year. Despite the headwinds from much higher mortgage rates, which approached 8%, home prices didn’t drop as many buyers had hoped they would.…

Commercial real estate represents an anchor that is likely to only grow heavier in the months ahead as apartments join office space in stressing banks and weighing on the larger economy. “Office is a four-letter word right now,” said Marcel Arsenault, CEO and founder of Louisville-based Real Capital Solutions, while moderating a panel on commercial real estate at the Colorado Business Economic Outlook Forum, hosted by University of Colorado Boulder in early December. Falling interest rates might provide some relief, but…