Denver, CO - Local Housing Data - Summary

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Denver, Aurora, CO

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Denver, CO Local News

  • Century Communities buys Houston's Grand View Builders

    Century Communities Inc. has bought Houston-based Grand View Builders, adding 13 communities and 601 lots to its portfolio. Molly Armbrister covers real estate and retail for the Denver Business Journal.

  • Century Lands an Experienced Texas Operator

    With the acquisition of Grand View Builders, Century Communities gets a foothold in the nation's largest housing market.

  • Top 10 Markets Attracting Millennial Buyers

    Millennials are far from the leading new-home buyer demographic in big markets, but some smaller markets are showing strength in attracting young buyers. Here, BUILDER ranks the top 10 markets successfully selling more homes to Gen Y.

New Home Sales and Prices Both Climb in Denver According to Newest Data

Posted on: Aug 08, 2014 11:18:04 AM

In the Denver, CO market in May, new home closings grew year-over-year, but the percentage surge, which was less than April 2014, seemed to suggest market leveling. There was a 11.0% jump in new home closings from a year earlier. In comparison, new home closings in the same month last year saw a 11.4% boost year-over-year in April.

A total of 5,497 new homes were sold during the 12 months that ended in May, up from 5,443 for the year that ended in April.

As a percentage of overall housing closings, new home closings made up 8.2%. This is an increase on a percentage basis, as new home closings were 7.0% of total closings a year ago. Following a year-over-year decline in April, closings of new and existing homes also fell year-over-year in May.

Pricing and Mortgage Trends

Average price of newly sold homes saw a 10.3% surge year-over-year in May to $436,160 per unit. This rise is higher than the 7.1% hike in April year-over-year.

The average mortgage size on newly sold homes saw a lift year-over-year along with new home prices. Average mortgage size rose 5.6% to $339,376 in May from a year earlier. In April 2014, average mortgage size on newly sold homes saw a 5.2% surge year-over-year from a year earlier.

 
 
 

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