Best Areas For New Construction Rates
The national news, and bloggers have been focusing far to heavily on what isn’t going well in the real estate industry. Places like Phoenix, Las Vegas, and Florida are constantly under the spotlight as the worst places with horrible deflation. That’s old news! Everybody knows that people who bought in 2004 have lost half the value in their home, and they may as well walk away from their home.
So let’s turn our attention to the Denver metro area. While it is true that there have been several negative impacts on the Denver area, this area has withstood much of it. There is still a steady increase of new homes in this great area. New homes and construction is probably the best indicator of the economy of an area. Once new homes have stopped being built, it can be assumed that growth has stagnated.
Homes are built because people are moving into them. Construction workers and contractors wouldn’t have jobs if there weren’t people buying their product. That means that there are other people in the area offering employment, so job creation is still high in the area. Within the Denver area, the average city has 5% of their real estate listings for sale, as new home construction. That’s a decent number. For example, Aurora Colorado has almost 2000 homes for sale, and right around 100 of those homes were built in 2011. Those homes have never been built occupied. That means that the people building homes in Aurora know that there are going to be people occupying those homes, because there are jobs for people to have when they move into the homes.
Denver, which has 3,759 homes for sale, has only 160 new home listings. That’s a moderate 4.26%. Of all of its listings, there are over 1,200 condos for sale, and only 26 new condos listings, which is roughly 2% growth of condos.
Probably the worst off area in Colorado is Boulder. This place once had a shine that had people flocking to it, but that may have been a fad. Because the amount of new homes for sale in Boulder is about 1% of the listings for sale right now. That means that Boulder probably isn’t creating any new jobs, but instead growth is stagnant. We may expect to see a population decrease in the next census.
The best area in the Denver metro is actually Boulder’s neighbor. Sitting just between Boulder and Denver is Broomfield Colorado. This area has a phenomenal ratio of new homes for sale right now. In fact, over 15% of the real estate listings are new homes in Broomfield. With growth like that, expect to see Broomfield doing very well in the next few years, as young families and professionals purchase the new homes which have just been built.
More evidence strongly suggests that Broomfield is going to be the best city to live for the next several years. The percentage of foreclosures in Broomfield is only at 2%, compared to other Colorado cities which usually sit at 5%, and sometimes as high as 10%. So if you want to live in a young, hip, up and coming area, then Broomfield CO is for you.
Brighton Colorado is one area that is sending off two mixed signals. It has the second highest amount of new homes for sale in the state, but at the same time, it has the highest amount of foreclosures. This may mean several things – an overzealous contractor, or a large company that was showing lots of promise went out.
The top three cities with new construction per amount of listings in Colorado are first, Broomfield at Brighton at, and Parker. Each of those cities have over 10% of their listings as new homes. The next tier of homes have between 10% – 5% of new homes for sale for how many listings. Those include Castle Rock, Thornton, Highlands Ranch, Longmont, Lone Tree, and Aurora. The tier follow that, with between 5% – 2% are Denver, Golden, Arvada, Westminster, Littleton, Lakewood, and Englewood. The last tier, with less than 2% is Evergreen, Centennial, and Boulder.
This data has beenall collected from the best Colorado Real Estate website on the internet. View this new home data at New Homes in Colorado.
Schreibe einen Kommentar