Denver New Construction Permits On The Rise

Denver New Construction Permits On The Rise

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.



Jason Peck Headshot
Author:
Phone: 720-446-6301
Dated: June 19th 2013
Views: 5,428
About Jason: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

The Uncommon Guide To Denver July 19th July 22nd 2018 - The Uncommon Guide to Denver July
Open House Saturday And Sunday - Come by and Check out this great
The Uncommon Guide To Denver July 13th July 15th 2018 - The Uncommon Guide to Denver 
Most Expensive Homes On The Market Today In Colorado - Everyone is always curious as to

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Keller Williams Realty Downtown LLC
917 Auraria Parkway
Denver, CO
720-279-9925


Other Locations