[email protected]

Lower mortgage rates motivated some buyers to get busy last month, but it wasn’t enough to prevent the seasonal slowdown seen this time of year in metro Denver’s housing market, according to a monthly update from the Denver Metro Association of Realtors. Buyers closed on 2,664 homes and condos last month, a 15.9% drop from the 3,169 homes sold in October. November closings were down 14% year-over-year and through the first 11 months of 2023, with the overall sales volume is down by nearly a fifth. Properties took longer…

Colorado’s economy next year won’t be a bed of roses, with job gains running at their slowest pace since 2011 and commercial real estate under extreme stress. But neither will it be a bed of thorns, as inflation eases and a recession doesn’t set in, according to the 2024 Colorado Business Economic Outlook. “It is a slower-growth story. There are positive nuggets in there. We aren’t forecasting a recession and we expect a continued abundance of job opportunities for people,” said Brian Lewandowski, executive director of…

Where Shelby’s Bar & Grill long stood on the corner of 18th and Glenarm streets, and before that the old Broadway Hotel, two towers are rising that will provide 461 for-sale condos, defying the odds in more ways than one. The project represents a vote of confidence in downtown Denver at a time when office vacancy rates have soared above 30% and remote work has left the future of central business districts uncertain. And it conveys a degree of faith by Amacon, the Canadian developer behind the project, that Colorado’s…

DaVita, Arrow Electronics, Charter Communications, VF Corp, and Gusto are major employers in Colorado. And while they operate in very different industries, they share something in common. They either relocated to the state or boosted hiring after receiving assistance from Job Growth Incentive Tax Credit program, which the General Assembly approved in response to the Great Recession, which cost the state 137,600 jobs in 2008 and 2009. From the first award in 2009 through this summer, employers have contracted to provide up…

Colorado’s unemployment rate continued to tick up, and private-sector hiring turned negative again last month, according to an update from the Colorado Department of Labor and Employment on Friday. Employers in the state added 1,500 net new jobs last month, but governments did the heavy lifting, adding 1,700 jobs. One of the biggest surprises in the report came in downward revisions to September job counts, which turned an initial gain of 1,500 jobs into a decline of 100. “The weak data for October was not a surprise;…

Five companies considering Colorado for 2,148 new jobs received approval for $22.9 million in Job Growth Incentive Tax Credits on Thursday. The companies include manufacturers of rare-earth magnets, semiconductor production tools, large-scale batteries, and consumable goods, as well as a Greeley-based general contractor. While construction is not manufacturing, it does fall under the category of “goods” rather than services. The largest award, worth $7.6 million, went to Project Solitaire, the code name assigned to a…

Colorado’s population is growing at its slowest pace on record, with domestic net migration turning negative last year and the population declines long seen on the Eastern Plains taking hold in one large Front Range county. Time will tell if the slowdown is temporary, as state demographers predict, or the start of a new trend. But Colorado’s ability to attract newcomers carries huge implications for its economic future, from filling open jobs to providing care for the surging number of older residents. “If we don’t see…

Shares of DISH Network plunged to a 25-year low on Monday after the company announced an unanticipated loss in the third quarter and the resignation of CEO Erik Carlson effective Nov. 12. Littleton-based DISH shares fell from $5.49 at the close of trading on Friday to $3.44 at the end of the day on Monday, a decline of 37%. Shares climbed 2.3% on Tuesday to close at $3.51. Over the past year, DISH shares have lost three-quarters of their value. Analysts had expected the company to report positive results in the third…

DISH Network, the satellite TV and wireless provider, informed the state on Wednesday that it will cut 499 jobs in Englewood and Littleton in early January, a dramatic reversal after months of job gains as the company built out a national 5G cellular network from scratch. “The first employee separations are expected to occur during the 14-day period starting Jan. 7, 2024,” Kaylee Hyman, a senior corporate counsel with the company, wrote the Colorado Department of Labor and Employment in what is known as a Worker…