Even though Colorado real estate sales prices have increased 10% against an 8% national average, but tight credit still hurts home builders. The following article explains it in detail:
So far 2012 is proving to be a “breakout year” for residential real estate despite ongoing problems for financing new-home construction, a national housing economist said in Denver Monday.
Home sales so far this year are up 8 percent nationally and in a range of 10 to 12 percent in Colorado compared to last year, said Lawrence Yun, cheif economist of the National Assocaition of Realtors.
“I’m encouraged that this is a sustaining situation,” Yun said in a presentation to the Colorado Association of Realtors.
Yun warned that a market imbalance could arise because buyer interest is outpacing the supply of available homes.
The whole article can be found here.