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Realtor.com spotlights legal marijuana and real estate prices

"Is legal marijuana catalyzing higher housing costs in Denver?" asks Realtor.com.

Excerpt:

"There has been a huge bump in real estate prices due to the legalization of marijuana," James Paine, managing partner at West Realty Advisors, told CNN Money in June. "It's massively pushed up raw land and industry prices."

But, they said back then, it was still "relatively affordable."

And what about now? The median home price in Denver, $350,500, is up 15.9% from this time last year. Vacancy rates in all sectors -- residential, commercial, industrial -- are all down, and so is unemployment. Home sales are up 3.1% from last year.

Read the rest here.

Read more articles by Eric Peterson.

Eric is a Denver-based tech writer and guidebook wiz. Contact him here.
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