New Denver Homes: Number of Permits Increases

As we keep talking about here, the inventory of Denver homes is at historic lows. Much of this has to do with potential individual sellers not listing their homes, but one of the less talked about issues is the number of builders who put the brakes on building new Denver homes over the past few years.

When the economy and housing numbers started to fall several years ago, many new home builders delayed or stopped plans for new construction. This lack of new inventory has caught up to us and is adding to the low inventory numbers. There was positive news on this issue today.

From The Denver Post:

Building permits issued by Denver Development Services during the first six months of the year were up 13.5 percent compared with the same period last year.

Site-development plans, which are issued for larger projects, have almost reached the total number submitted for all of 2011.

The numbers represent the city and county of Denver only, not the metro area.

Building permits are required for everything from minor home improvements such as plumbing upgrades to construction of new structures, so the permit data offer a window into both larger-scale commercial development and smaller do-it-yourself activity.

Read more: Denver real estate numbers continue to show growth – The Denver Post
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Again, with banks holding back on many Denver foreclosures and Denver HUD homes, our biggest struggle with buyers right now is a lack of inventory. Hopefully this tend of new builds continues in both Denver and other counties in the Metro area.

As always, if you would like to talk to one of our agents about new homes in your area, give us a call at 303-726-1874.




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