Denver Home Construction Sees Biggest Rise Since Recession
Contractors began building more new homes in the third quarter of this year than at any point since the recession, according to numbers kept by Metrostudy.
The number of housing starts in metro Denver jumped 33 percent in the third quarter compared to the same time last year. That’s about 700 more homes than the year before.
A booming population coupled with a shortage of new housing has inflated Denver home values about as fast as anywhere in the country. Yet, prices probably won’t be dropping soon. Even with this recent spike in construction, new homes for the whole year are still half their pre-recession level.
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