Only 12 percent of counties in the whole country had a construction peak in 2015, not 2005 or 2000, according to an analysis from the National Association of Realtors. Denver was one of them.
This is not a simple case of urban areas behaving differently than suburban or rural areas either. Only a few metros held a similar distinction.
Most counties in the analysis saw the highest number of building permits issued in 2005, according to the National Association of Realtors, a time of “strong” inventory conditions. In Colorado, most counties had the most construction even earlier in 2000.
By 2015, most of the country had fewer houses available, according to NAR. Plus, most areas had not recovered to pre-recession home values, according to an analysis from Trulia.
While low inventory is certainly the lay of the land in Denver, the metro has definitely rebounded in terms of home values.
What does it all mean? Recovered home values plus strong construction numbers are another quick numerical indicator that interest in Denver real estate has been strong over the past few years, strong enough to stand out across the country even.