Denver, Colorado builders stepped up home construction in May and applied for permits to build single-family homes at the fastest pace in five years. The gains show housing remains a key source of growth for the economy.The overall pace of homes started rose 6.8 percent last month to a seasonally adjusted annual rate of 914,000, the Commerce Department said Tuesday. That offset part of the 14.8 percent decline in April. May's rate is still below March's pace of more than 1 million — the fastest in five years.Construction increased in May for both single-family homes and apartments and condos.And builders sought more permits to build single-family homes, which make up nearly two-thirds of the market. The seasonally adjusted annual rate rose 1.3 percent to 622,000 — the highest since May 2008. That's a sign that construction will increase further in the coming months.Overall permits fell 3.1 percent in May to a seasonally adjusted 974,000. But that was because of a drop in apartment permits.Overall, the report points to more evidence of a housing recovery that has become sustainable. New-home construction has risen 28.6 percent since May 2012.
Author:Jason Peck Phone: 720-446-6301 Dated: June 19th 2013 Views: 5,360 About Jason: ...
Recognized as a top selling team in Denver Metro area. Nationally recognized for homes sold by the Wall Street Journal, Real Trends and Top 5 agent by RIS Media. Our goal is simple and that is to exceed our client's expectations by providing professional service, expert advice and exceptional results.
Open house Monday, 9/11 from 2-4pm at 13676 E 5th Pl Aurora CO 80
"We worked with the team of Jason Peck, Matthew Koller and associates in the sale of our home in Denver and the purchase of the new property in Thornton. Their advise to us on improvements and presentation aided us in an increased value of our home making it possible to purchase a much better home than we expected. The entire team are professional and easy to work with, understanding our needs for the best possible results. We were fortunate to find the best Realtors and we recommend them to anyone selling or buying a home."