Metro Denver home builders are swinging their hammers faster than at any time since the last recession. But production, which remains concentrated on more expensive homes, appears to be ramping up just as the overall housing market is showing signs of cooling off.

Builders started construction on 2,950 homes in metro Denver in the second quarter, 20 percent more than in the first quarter and 32 percent more than the same period a year earlier, according to Metrostudy, which conducts field surveys of lots.

It has been nearly a decade since metro Denver had more than 3,000 new home starts in any given quarter. Measured at an annual rate, starts are running at 10,610 homes, up 35 percent from last year and the fastest pace since 2007.

Back then, 23 percent of starts were condos, but those now represent only 4 percent of starts. As has been the case for several years now, the majority of new homes target buyers with the highest incomes. Read the story on Denverpost.com

 

   Tweet