As with most things to which we want a simple answer, there is no simple answer.

First, let’s do a quick scan of the statistics. In Metro Denver, information reported by Metrolist (the local MLS) showed August closings on detached homes (single family) to have increased over July, but slightly off from August 2006,while attached homes (condos, lofts, town homes), suffered a 3.35% decline from August 2006. While August closings were stable, contracts written but not yet closed were off 6.13% from 2006. New home permits have declined in the Denver area 38% from 2006, while multifamily (apartment) permits have increased 20% on a per unit basis in Metropolitan Denver.

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Written by Larry D. McGee, Denver Realtor - Visit Website Sphere: Related Content