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Uptick in Builder Optimism – Montrose Colorado Real Estate

Uptick in Builder Optimism – Montrose Colorado Real Estate

Builder Optimism

Builder optimism is up, and can be attested to by the 23% increase in Montrose Colorado Real Estate building permits recently issued.

Building Permits Issued in Montrose Colorado. Source: http://cityofmontrose.org

Builders have completed several new housing starts in Montrose Colorado and have more in the works. Recently, Bear Creek finished new homes, which are now available for sale. Also, two patio home projects are beginning in The Bridges Golf Community and Sunrise Creek.

Two new builds just finished in Craftsman village as well. These new builds are selling in the low $200k price range.

 

craft-village-Montrose Colorado Real Estate Inventory
Two New Builds – Adding to the fresh, but still limited Montrose Colorado Real Estate Inventory

Economics Behind the Housing Sector Growth

The Colorado real estate market experienced the largest equity increase in home values in 2014, giving homebuilders an opportunity to finally compete again in the real estate market. Because of the drastically low values of Montrose Colorado real estate, builders had no reason to invest in the venture of a new build as property equity had not matched the increase in building material costs. Now, as Real Estate values increase, Montrose Colorado is hopefully staged for new construction to meet buyer demands.

Nationally, the National Association of Home Builders are projecting new single-family home construction to increase by 26% through 2015.

Population growth as well as job creation, along with an increase in wage levels all add to the validity of the real estate sector as economic driver. Nationally, we have seen a steady increase in jobs over the past year. The BLS reported that unemployment had declined to 5.6% in December of 2014 versus a staggering 8% in 2012. The economy and the Montrose Colorado Real Estate Market has come a long way.

Custom Lot and Build Packages

There are ample opportunities in the greater Montrose area when it comes to building a new home. Lots are available at reasonable prices in even the most desirable locations, allowing potential buyers to design homes to their specs. There are even package deals available for buyers to buy a lot that comes with a custom new build designed to the buyer’s taste.

 

This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, The National Association of Home Builders, The City of Montrose, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2015. All Rights Reserved.

 

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Diana Atha

Diana Atha is a seasoned agent in the Montrose, Colorado real estate industry. She has served within the Montrose professional market since 2006 and is part of Keller Williams Colorado West Realty. Diana has extensive experience as a real estate agent and is naturally gifted in customer service. She has passed on this knowledge and mentored rising stars in the Atha Team. Diana and her team have achieved many awards serving as buyer's and seller's agents in Montrose, Ridgway and Ouray. “Top Residential Sales Team” in 2017 “Top Residential Sales Team” in 2016 “Top Listings” and “Top Producer” in 2016 “Top Residential Sales Team” in 2015 “Realtor of the Year” in 2013 Recognition for ranking 3rd in real estate sales volume in 2013 Diana has served as a volunteer in many different aspects of the community throughout her over 25 years of Montrose residency. Growing up, Diana was modeled in the discipline of servant leadership. Her father, Rick Weaver of Del-Mont Consultants and Samaritans Aviation, included Diana in many community projects serving the needy. As Diana grew older, she traveled to Kenya, Papua New Guinea, Australia, New Zealand, Hungry, Romania, and Japan to help serve others in a Christian Humanitarian context. Diana now volunteers her time at the Magic Circle Theatre, Grace Community Church, Rotary International – Montrose CO, and served on the Board of Directors for the Montrose Association of Realtors. Diana is married to Ian Atha the Listing Specialist for the Atha Team and happily resides in Montrose Colorado.

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