The Federal Reserve Board reported that the economy moderately expanded in July and August in Colorado and its neighboring states, and expects the region to grow through the fall. In the tenth district, which includes Colorado, residential real estate markets "continued to strengthen, with an upswing in construction and a rise in sales," reported the Fed in its eight-times-a-year Beige book — which is more commonly known as the Summary of Content on Current Economic Conditions.

Specifically, the Fed observed that consumer spending increased in July and August. Similarly, home starts rose and lot prices are expected to increase as supply of available sites tightens. Sales of construction supplies rose and saw a shortage of some building materials, such as drywall and roofing shingles. The Fed also reported that some builders were concerned that the shortage of skilled labor could constraing growth. Read more...

   Tweet