Colorado Real Estate Rises; Homebuilders are Handcuffed

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.

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