Denver housing, commercial markets point to stabilization
Employment gains, decreasing vacancy rates in commercial real estate and strengthening housing trends are all optimistic indicators of the region's continued economic stabilization, according to data compiled by the Metro Denver Economic Development Corporation in its Monthly Economic Summary for August 2012.
According to the report, Metro Denver's residential real estate market is improving, with higher builder confidence, new residential construction and a growing number of contracts to purchase previously owned homes. Total metro Denver home sales through the first seven months of 2012 were 16.8 percent higher than sales reported during the same months of 2011. Overall, these stronger home sales are helping to support higher home prices. Further, home construction is on the rise with 68.5 percent more residential building permits issued through the first half of 2012 than the first six months of 2011.
The entire summary is available on Metro Denver EDC's website, http://www.metrodenver.org/metro-denver-economy/monthly-summary
Jennifer Hayes has been an Editor with the CREJ for more than 12 years. Jennifer covers all commercial real estate news for all property types in the Colorado Springs/Southern Front Range and the Western Slope/Mountain Town areas. Jennifer also is Editor of the Construction/Design/Engineering section, the Economic Development section and the Shopping Center section.
Before joining the Colorado Real Estate Journal, Jennifer served as the Assistant Sports Information Director at Texas A&M-Commerce. She earned her bachelor's degree in broadcast journalism from the University of Colorado and a master's degree in education from A&M-Commerce.
When not bringing you the latest in commercial real estate news and views for the Denver area, Jennifer enjoys spending time with her husband and son, sports, dining out, reading, and perfecting her cookie and cupcake icing technique.