It’s good news for home builders in Denver as permits for new construction rise 48 percent more than last year’s for the same period. According to Inside Real Estate News,”In the first seven months of the year, builders pulled 3,035 permits for single-family detached homes, a 48.3 percent increase from the 2,046 during the same period in 2011.”

A report by the Home Builders Association of Metro Denver shows that in July alone, 532 permits were issued in Denver-area counties– Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Elbert, and Jefferson. A huge increase from the 320 issued last July.

Builders are taking advantage of the shortage of homes listed on the market. While new construction appears to be on the rise, resale inventory is down more than 40 percent from last year. More people are choosing to buy rather than rent a home.

If you are looking to buy a new home in Denver give Ann Meadows a call at 888-860-1931