DENVER - The slump in the new-home sales market in the Denver area continues. Experts predict that new-home sales will drop another 10 percent this year, on top of a 31 percent drop in 2007. A report by the Genesis Group, which tracks real estate along the Front Range, found only 9,698 new homes were sold last year, down from 14,108 in 2006. Sales activity in 2007 was the lowest since 1994, when 9,590 homes were sold. The market peaked in 2000 with 19,432 new-home sales. “Builders have to ask themselves, why are they building homes if no one is buying?”
An influential economist who long predicted the bursting of the housing market bubble cautioned Tuesday that the slump in the U.S. housing market could cause prices to fall more than they did in the Great Depression, and bailouts would be needed so millions don’t lose their homes.
Yale University economist Robert Shiller, pioneer of the widely watched Standard & Poor’s/Case-Shiller home price index, said there’s a good chance housing prices will fall further than the 30 percent drop in the historic Depression of the 1930s. Home prices nationwide already have dropped 15 percent since their peak in 2006, he said.
Historical Housing Statistics for Colorado
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Jeffery McClintock, is a real estate broker in Denver and prides himself on providing clients with professional guidance in all phases of residential new construction, including market research, product development, consulting, marketing and advertising. His personal mission is to bring to you a level of knowledge, experience, commitment, high standards and results to answer your real estate needs. He believes, the most effective way to provide superior service is to build a strong working relationship with you. His system includes regular consultations and feedback, which is the best tool for identifying and clarifying your real estate objectives and help define strategic solutions.
Jeffery has been a licensed Realtor since 1995. During this time he has successfully closed over 135 million dollars of residential real estate, and 40 million dollars in un-improved land amounting to 660 individual real estate transactions. His professional experience includes the Denver Colorado front range and the Second Home market in Breckenridge, Colorado located in Summit County
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