Builders started construction on nearly 3,000 new homes in the Denver area between April and June.
That’s more than a 30 percent increase over the same quarter last year – and the most homes in about a decade, according to the research firm, Metrostudy.
A strong economy and the continued influx of new residents make now a perfect time for home building, according to Thrive Home Builders CEO Gene Myers.
Except there isn’t enough labor to build them.
"When you staff up, you realize that the skill levels aren’t there, then the construction completion is delayed," Myers said. "It’s a challenging time to be a builder, believe it or not."
Myers said they’re still not close to building enough homes to keep up with demand. That’s also thanks to a lack of new lots to build on around Denver.
Banks, he said, are still hesitant to get into the lot development business following the recession.