DENVER — Transplants to Denver had a budget 14.8% higher than locals shopping for homes, according to a recent analysis of the average budgets of Redfin home searchers in 2021.
The study further credits complaints by aspiring homebuyers in the Denver area who warn that out-of-state money is swooping up the limited number of homes available on the market.
That gap between maximum budgets breaks down to an average of $901,386 for out-of-towners compared to locals shopping with $785,171, the analysis found.
In its analysis of users, Redfin Corp. (Nasdaq: RDFN) found relocators in 42 out of 49 cities had more to spend on homes than locals. Out of those 42, Denver ranked 12th. No other Colorado cities made the list.
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