In the first seven months of the year, metro-area townhouse construction was up 77.8%, according to Inside Real Estate News. This gain represents a nearly 35% increase over permits issued for single family homes in the same timeframe — and 17.5% of the entire for-sale market. Through July, the eight-county area served by the HBA reported 868 permits pulled, compared with 488 last year.

Of that, 388 townhome permits were pulled in Denver, mostly in the Stapleton community. While most townhome activity is taking place south of I-70, New Town Builders President Gene Myers plans to pull permits in the next couple weeks at Stapleton Conservatory Green, north of the interstate.

Thanks to pent up demand by young professionals who've waited longer than normal to buy their first homes, Myers said, "This year will probably be the first in our history that we will have delivered more townhomes than single family homes." Read more...

 

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