Report: Denver needs more than 67,000 new homes

DENVER BUSINESS JOURNAL - Denver's hot employment market but low single-family home construction activity "is creating a housing shortage crisis that is curtailing affordability and threatening to hold back prospective buyers."

That's according to the National Association of Realtors, which Monday released a report saying that Denver is in the top 10 nationally when it comes to "markets in dire need of more single-family housing starts."

According to the NAR, Denver needs 67,403 new building permits to get back to a historically normal home building pace.

“Inadequate single-family home construction since the Great Recession has had a detrimental impact on the housing market by accelerating price growth and making it very difficult for prospective buyers to find an affordable home – especially young adults,” said Lawrence Yun, NAR chief economist, in a statement.

Read more at the Denver Business Journal: http://bit.ly/2cQYB9L

Copyright 2016 Denver Business Journal


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