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From The Blog

Black Canyon Builders, Custom Home Builder Durango, Durango CO, Durango contractors, GDP, housing industry, Pagosa Springs, Telluride

The Economics of Housing News from Around the Web

Lots of interesting housing news, from our own Durango Herald to national organizations. By these indications, the the housing market is strengthening and positively impacting the greater economy. As a builder, the health of the market is obviously critical to my business. But the real reason I share these types of articles is to provide resources for my clients to stay abreast of the value of one of their biggest investments: their homes. Further, I see the micro and macro economics of the housing industry every day. It is my honor to work with talented craftsmen, as my employees and as subcontractors. The depth and strength of the building industry is critical to every regional economy.

The Durango Herald reported on home sales throughout Colorado. Summary: Homes in La Plata County are priced higher (median) and stay longer on the market than other areas around Colorado. This doesn’t sound like great news off the cuff for those looking to buy (unless you consider extremely low interest rates) or sell (length of time on market). Digging a little deeper, the article notes that the long market times are due in part to the many second/vacation homes in the area, and that the in-town homes are sold more quickly. The article ends by noting a 10-percent increase in prices in 2012, indicating the recovery is on the upswing.

The Associated Press reported, via Yahoo, that residential builders provided powerful contribution to the U.S. economy in September. They attribute this to a 2.8-percent rise in home building. Overall, spending on residential construction was up 20.9-percent over September 2011. Great news, but we still have a way to go to be considered at “healthy” levels.

According to David Crowe, the chief economist for the National Association of Home Builders, housing has generated 17-percent of the total GDP growth. In his words, “…housing has generated an outsized share of the expansion.” This article is full of statistics and current market evaluations, click here to read.

Thanks,

Jared

03 Nov 12
By : jogden
Comments : 0
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Jared Odgen | About Black Canyon BuildersBased in Durango, Colo., award-winning Black Canyon Builders has designed and built custom homes for all of Southwest Colorado since 2006. Founder and president, Jared Ogden, is a craftsman and general contractor of the highest level - weighing integrity, communication, skill and artistry on equal measure. Learn more about our approach.

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