Colorado Springs Colorado new-home sales were up almost 20% in 2011 compared with 2010. By October 2011, sales of new Colorado Springs homes comprised 11.4% of the total number of Colorado Springs home sales, year over year. While more single-family homes sold than in the previous year, the number of sold multi-family homes decreased.
In addition, the Denver Post Newspaper reported a 10% increase in the number of permits pulled by homebuilders across the State of Colorado in 2011. Sales of new homes in the State of Colorado are also up slightly. Colorado recorded 12,758 single-family and multifamily building permits as of the end of December 2011, according to the article by Aldo Svaldi.
Prices of new Colorado Springs homes for sale averaged $276,142 per unit in October 2011. Promisingly, that price tag amounts to more than 5% greater value than prices in 2010.
Characteristics of sold new homes in Colorado Springs may foretell some trends. One finding is that the average sizes of new homes increased about 8% to square footage of 2367. For more details, visit builderonline.com.
Against the 2001 record number of permits, however, the building industry still has quite a ways to go. Longtime builders yearn for the good-old days when more permits were pulled than in the past four years combined. While the increases in building permits are minimal in that sense, the numbers beat the national trend by quite a bit. Nationally,building permits declined, reaching the lowest level in the last half century.
Several factors affect new-home sales: #1) Inventory and selection of best existing homes for sale has dropped, #2) Rental ratesare increasing, #3) Fewer choices of apartments, #4) Interest rates keep falling, #5) Builders are passing along bargain land values to buyers, #6) New homes can be built in shorter times, #7) Buyers are looking for energy efficient and high-tech homes, and the list goes on.
As Svaldi points out, “Homebuilders still face several headwinds, chief among them a surplus of housing units left over from the last decade.” Colorado’s housing surplus includes 130,000 units. Nonetheless, the number of building permits issued traditionally indicates economic strength and the numbers are up.
For information about buying a home in Colorado Springs, contact award-winning REMAX real estate agent Ann Heiring at (719) 440-1010 or Toll Free at (800) 246-8978. In appreciation for those who serve our nation, Ann offers special rebates for active and retired military.
Select New Homes (built in 2011 & 12) available in Colorado Springs