Colorado and Denver New Housing Markets Showing Signs of Recovery?

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 15, 2009 -- Home Builders Research of Colorado recently published it's most recent issue of the Colorado Front Range Housing Market Letter, emphasizing that there are signs surfacing that reflect housing markets along the Colorado Front Range area beginning to show signs of bottoming out with demand improving im many areas.

According to David Laffoon, President and Founder of Home Builders Research Colorado, "Demand for new housing had been on the steady decline along the Colorado Front Range since early 2006."

He pointed out, based on the firm's recently updated and published housing reports for the Denver metro area, Northern Colorado, and Colorado Springs/El Paso County, "Even now we are beginning to see relative improvement in new home demand as sale's declines in a year-over-year comparison are beginning to show signs of slowing and bottoming out."

In a monthly year-over-year comparison of Denver Metro 7-County Area recorded new home sales in 2007, Laffoon pointed out "the gap between recorded monthly new home sales was down in the 50% range compared to the same month in 2006."

According to Laffoon, much of the same occurred in 2007. But, "The gap between the sales recorded monthly in 2008, compared to the same month in 2007, was less severe.... basically reflecting signs that demand declines are easing....and are getting better by not being as bad as it was..."

More recently in 2009, according to the firm's most recently published Colorado Front Range Housing Market Letter, "We are seeing a continuing of this improving demand trend, with the gap in Denver area recorded new home sales narrowing down to about 38% so far in 2009 compared with the 50% declines witnessed in 2007."

Laffoon's expertise also covers El Paso County in Southern Colorado, where he noted in the Housing Market Letter that "New home closings recorded in the 12 months through July 2009 were down about 42%, compared to the same period a year ago. Yet, in a similar comparison based on permitted housing units, the decline was a relatively milder 37.4%."

The Front Range Housing Market Letter highlighted that this trend of improvement in El Paso County housing demand was even more dramatic when comparing the first 7 months of 2009 to the same year-to-date period in 2008 with just a 31.3% decline. This was down from a 47.4% decline for home sales recorded the same period the year before.

"And, even most recently," Laffoon added, "July permit numbers were down just 21.1% from a year ago."

You can see some graphics and tables regarding some of the comprehensive housing analysis by visiting www.hbrcolorado.com. The firm's website offers sample reports and some current housing analysis tables or graphs for each of the 3 major housing markets along the Colorado Front Range.

The full analysis on the housing markets along the Colorado Front Range is covered each month in the the Colorado Front Range Housing Market Letter. The analysis above was extracted from the firm's comprehensive housing reports for the Denver Metro area and El Paso, Larimer and Weld Counties. For more information about Home Builders Reeach Colorado and the comprehensive housing publications offered, visit the website www.hbrcolorado.com.

More information can be found online at http://www.hbrcolorado.com

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