At the Denver Metro Association of Realtors 2018 economic summit, economist Elliot Eisenberg spoke to the area's "chronic" for-sale housing stock, including a lack of affordable housing.
“We built 850,000 single-family homes last year,” Eisenberg said, adding, “That’s a recessionary low level. This is nuts.” The Denver Post reports that the construction industry's labor shortage is making matters worse locally and nationally -- a recent survey of industry professionals shows 56 percent of Colorado industry firms stated their biggest concern for 2018 was finding enough workers.
Despite the grim outlook for meeting demand, chairman of the association of Realtors’ market trends committee Steve Danyliw did highlight one positive trend for would-be homebuyers: Median home prices in metro Denver ... After rising by 13.3 percent in January 2015, the pace of price growth dropped to 8.3 percent in December 2017, with signs it will continue to drop to more sustainable levels this year.
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