Experts skeptical of Grand Junction vacancy rate
State says 9.7%, local experts disagree
The Colorado Division of Housing just released the latest quarterly vacancy report for the state, but the numbers don't quite match what local experts say is true for the rental market in western Colorado.
According to the report, Grand Junction's rental apartment vacancy rate is at 9.7%, up from 7.0% the same time last year.
The chairman of the Grand Junction Area Realtors Association, Michael Burkhard, says the state statistics may be skewed by a failure to account for both owner-occupied and section eight housing.
"We're probably much more consistent at a healthy vacancy rate between five and six percent rather than the nine point seven percent..," he explained.
Burkhard says he believes the local housing market is on the upswing.
In terms of buying property, he says those thinking about buying should make a move in that direction as soon as possible.
He says mortgage rates are starting to creep back up, decreasing the buying power of those looking to purchase a home.
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