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11 years and still going strong

Denver’s labor shortage is improving

The supply of available homes on the Denver real estate market is lesser than the demand as more

people flock to Denver for the opportunities the community provides. Aside from a limited supply of

homes, home prices have increased because of shortage of labor and escalating labor costs.

Nonetheless, this 2016, the labor shortage situation is better than last year according to MDC Holdings

Inc. MDC is recognized as the largest homebuilder in the entire Denver area.

David Mandrich, the president and CEO of MDC attended the 2016 Residential Land Development

Conference and Expo as the key note speaker last week. Denver rental property management

companies inquired about the labor shortage and Mandrich stated that the labor pool is better this 2016

than 2015.

In the past, the demand for housing in Denver was not that great, so naturally the need for construction

workers was less says Mandrich.

During the conference Mandrich also mentioned that people might return to the homebuilding industry

instead of the energy industry because the supply of oil and natural gas is depressed.

Bob Martin, the chief financial officer of MDC states that the problem of finding quality subcontractors

has started to get better this year. Martin says that MDC only hires the best contractors and MDC is

lucky that Denver has some of the best contractors in the nation.