Economic
indicators
Guarantee your
mortgage
Home prices
by the zip code
Vol. 30, No. 4
May 2006
Economy reflects good and bad times…at the same time
News reports are sending mixed messages about the state of the economy in Colorado.
On one hand, unemployment rates are dropping to lows not seen since 2001 – the stateʼs
rate was 4.6% in February – and job growth is outpacing the nation. In fact, employers
anxious to hire are finding fewer workers available – a repeat of the job seekerʼs mar-
ket in the late 1990s and early 2000s. Also, Coloradoʼs per-capita personal income of
$37,946 in 2005 – an increase of 5.1% compared with 2004 – was the 8th highest in the
nation, according to U.S. Bureau of Economic Analysis. The nationʼs per-capital income
was $34,586.
On the down side, the trend of overdosing on debt has resulted in record foreclosures
in Colorado. The Weld County Trustee reports 492 foreclosures in the first 3 months of
ʼ06, a 33% increase compared with the 369 foreclosure in the same period last year. The
Larimer County Trustee reports 306 foreclosures in 1Q ʼ06, a 27.5% increase compared
with the 240 foreclosures in 1Q ʼ05. And more bad news may be on the way as millions
of Americans who have adjustable rate mortgages face higher interest rates and pay-
ments – as much as 50% higher, according to the Wall Street Journal. Economists say
that since foreclosures are a lagging indicator of the economy, they will get worse before
they get better.
Northern Colorado has its fill of residential lots, study shows
Listed below is the inventory of available lots in Northern Colorado according to the
research firm Metro Study. “Developed lots” are lots that have improvements such as
utilities and streets already installed; “paper lots” are lots that are platted but have not
had improvements installed. Data is for the 12 months ending 3Q ʼ05.
Developed
Paper
Annual
Estimated months
Area
lots
lots
deeds
of inventory (dev. lots)
Fort Collins
1,669
13,