Homebuilders in the Denver metro area pulled permits for 573 single family homes in October, a 28.5 percent boost over October 2012, according to Inside Real Estate News, which cited the HBA. Through October, builders pulled permits for 5,708 single family homes, which is almost 25 percent more than last year's 4,583 permits pulled through October. Richmond American Homes alone pulled 1,075 permits in the first ten months.

While single family home permits pulled in September dipped by almost ten percent — mostly due to rising interest rates and lot scarcity — the market quickly got back on track in October as new projects started to come on line. Multifamily permits are on the rise, as well. Through October, homebuilders pulled 1,000 permits for single family attached homes, mostly townhomes. This represents a 38 percent increase over the same period last year.

While demand for homes continues to be strong in Stapleton and Midtown master communities, the HBA report showed that demand is good in Parker, Castle Rock, Douglas County, Aurora, Thornton and eastern Boulder, as well. Read more...