Places like Phoenix, Florida, Las Vegas, and Atlanta have been constantly focused on because they have bad foreclosure rates, tons of short sales, and so on. The focus needs to begin to shift from those areas to the places that have good things going on. Everybody already knows that there are several unfortunate souls who bought their home in Las Vegas, and won't actually start paying it off for another 10 or 15 years because it has decreased in value so much.
So let's shine the spotlight on Colorado for a little while. It is true, no area has been left untouched by the toxic hand of economic woes, but Colorado has had a good amount of resiliency in this sad situation. Home values here have remained high, and people are continuing to build - far better than what other areas have been able to say for the last several months and years. New home construction is perhaps the best sign of new growth, and a solid economy than any other indicator.
Homes are only built in an area as there is a demand for people to move there. The demand for new people is generated by the growth of new businesses and new job creation. Within the Denver metro area, the median city has 5% of its listings as homes built within 2011, which haven't yet been sold. So for example, Aurora Colorado has 1858 homes for sale, of those homes, 97 were built in 2011 and are available for purchase. That means that builders in Aurora have great faith that there will be people ready to purchase these homes, and that faith isn't blind - Aurora is growing rapidly.
Denver, which has 3,759 homes for sale, has only 160 new home listings. That's a moderate 4.26%. Of all of its listings, there are over 1,200 condos for sale, and only 26 new condos listings, which is roughly 2% growth of condos.
Probably the worst off area in Colorado is Boulder. This place once had a shine that had people flocking to it, but that may have been a fad. Because the amount of new homes for sale in Boulder is about 1% of the listings for sale right now. That means that Boulder probably isn't creating any new jobs, but instead growth is stagnant. We may expect to see a population decrease in the next census.
As poorly as Boulder is doing right now, Broomfield is doing marvelous. Maybe people are moving from Boulder, a little closer to Denver into Broomfield. Right now, over 15% of the homes for sale in Broomfield are new construction. That's a phenomenal growth rate, and we may expect to see the area double in size. Expect to see good things coming out of Broomfield Colorado in the near future.
The good news doesn't stop for this growing city. The percentage of foreclosures in Broomfield is less than any other city with over 100 homes for sale in Colorado. When checked last, Broomfield only had 8 foreclosed home listings, which is just barely over 2% of their listings. If you want to move into a promising, up-and-coming city, then Broomfield is the place for you.
A quick side note of interest. While Broomfield has the highest new home rate, and the lowest foreclosure rate, its neighbor just to the East, Brighton has the highest foreclosure rate, and at the same time the second highest amount of foreclosures.
The top three cities with new construction per amount of listings in Colorado are first, Broomfield at Brighton at, and Parker. Each of those cities have over 10% of their listings as new homes. The next tier of homes have between 10% - 5% of new homes for sale for how many listings. Those include Castle Rock, Thornton, Highlands Ranch, Longmont, Lone Tree, and Aurora. The tier follow that, with between 5% - 2% are Denver, Golden, Arvada, Westminster, Littleton, Lakewood, and Englewood. The last tier, with less than 2% is Evergreen, Centennial, and Boulder.
So let's shine the spotlight on Colorado for a little while. It is true, no area has been left untouched by the toxic hand of economic woes, but Colorado has had a good amount of resiliency in this sad situation. Home values here have remained high, and people are continuing to build - far better than what other areas have been able to say for the last several months and years. New home construction is perhaps the best sign of new growth, and a solid economy than any other indicator.
Homes are only built in an area as there is a demand for people to move there. The demand for new people is generated by the growth of new businesses and new job creation. Within the Denver metro area, the median city has 5% of its listings as homes built within 2011, which haven't yet been sold. So for example, Aurora Colorado has 1858 homes for sale, of those homes, 97 were built in 2011 and are available for purchase. That means that builders in Aurora have great faith that there will be people ready to purchase these homes, and that faith isn't blind - Aurora is growing rapidly.
Denver, which has 3,759 homes for sale, has only 160 new home listings. That's a moderate 4.26%. Of all of its listings, there are over 1,200 condos for sale, and only 26 new condos listings, which is roughly 2% growth of condos.
Probably the worst off area in Colorado is Boulder. This place once had a shine that had people flocking to it, but that may have been a fad. Because the amount of new homes for sale in Boulder is about 1% of the listings for sale right now. That means that Boulder probably isn't creating any new jobs, but instead growth is stagnant. We may expect to see a population decrease in the next census.
As poorly as Boulder is doing right now, Broomfield is doing marvelous. Maybe people are moving from Boulder, a little closer to Denver into Broomfield. Right now, over 15% of the homes for sale in Broomfield are new construction. That's a phenomenal growth rate, and we may expect to see the area double in size. Expect to see good things coming out of Broomfield Colorado in the near future.
The good news doesn't stop for this growing city. The percentage of foreclosures in Broomfield is less than any other city with over 100 homes for sale in Colorado. When checked last, Broomfield only had 8 foreclosed home listings, which is just barely over 2% of their listings. If you want to move into a promising, up-and-coming city, then Broomfield is the place for you.
A quick side note of interest. While Broomfield has the highest new home rate, and the lowest foreclosure rate, its neighbor just to the East, Brighton has the highest foreclosure rate, and at the same time the second highest amount of foreclosures.
The top three cities with new construction per amount of listings in Colorado are first, Broomfield at Brighton at, and Parker. Each of those cities have over 10% of their listings as new homes. The next tier of homes have between 10% - 5% of new homes for sale for how many listings. Those include Castle Rock, Thornton, Highlands Ranch, Longmont, Lone Tree, and Aurora. The tier follow that, with between 5% - 2% are Denver, Golden, Arvada, Westminster, Littleton, Lakewood, and Englewood. The last tier, with less than 2% is Evergreen, Centennial, and Boulder.
About the Author:
This data was all compiledfrom the best Colorado Real Estate website on the internet. You can view listings of these home at New Homes in Colorado.
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