Market Snapshot from Home Builders Research – Colorado
Providing Housing Data Analysis Since 1993…
Denver Metro Area, El Paso Co/ Colorado Springs,
Northern Colorado (Larimer & Weld Counties),
and Pueblo County
Subject: Denver Metro Area New Home Sales Trends Point to Better Days Ahead after Steep Declines from 2006 Through 2008 Followed by “Flat” Demand… until Recently….
Home Builders Research has been analyzing the housing market along the Front Range since 1993. The focus of this housing market update is on the metro area sales trends and market demand improvement since the steep declines that began in early 2006. In the Denver metro 7-County area monthly new home closings were still riding on high tide in 2005 after a 10 year run of strong housing market demand.
That all started to unwind in 2006 as monthly new home sales then began to lose all of the gains made since the mid 1990’s. And, that took only 2 years before the sales demand slide bottomed out, and at a point well below where we were in the early to mid 1990’s when the demand began it’s 15 year “boom” run.
If we had been able to peek out ahead, we would have seen that we were at the top of the roller coaster with a great view and a steep ride to the bottom.
The graphic we have on our website depicting the monthly sales trends runs form 1996 through March 2012. Even though it also shows market demand skimming along the bottom through first quarter 2012, the actual sales number do show improvement in the first quarter in a year-over-year comparison.
In March this year.. end of 1st quarter… new home closings recorded were up a modest 4%. This is still relatively good news considering the recent past trend. April’s sales numbers were up 23%. And, the first 4 months of this year the gain over last year was 24%. Even the 12 months through March posted a gain of 5% over the same period the year before.
The Denver sales graphic alone is very telling, and we are sharing it with you in a printable format. You can go directly to the graph on our website via the link below.
DENVER METRO AREA: http://www.hbrcolorado.com/denver-metro-area.html