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Navigating the recent rough waters of the real estate market has proved to be a challenge for everyone in the industry. While economists expect the market to turnaround, forecasts aren’t always enough to assuage fears and concerns. One of the groups that has become the most discouraged is the nation’s home builders. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), builder confidence has reached the lowest point since February 1991.

The index cites growing concerns related to subprime lending problems and rising prime mortgage rates as some of the obstacles that builders feel they will now face. The index is compiled based on a monthly survey that NAHB has been conducting for over 20 years. Each month, the survey allows the organization to gauge builder perceptions of current single-family home sales and sales expectations for the next six months as well as rate traffic of prospective buyers. Scores for all three have decreased significantly.

 

But despite the NAHB’s findings, builders in Denver are still forging ahead with plans for new residential construction – a testament to the market’s resiliency. In fact, according to the Denver Post, Denver is the only county in the metropolitan area that has seen an increase in the number of building permits issued in the first four months of the year. Over 1600 permits were issued during the first four months of the year, up 20 percent compared to figures released in 2006.

 

KB Homes is a shining example of this promising trend. The company, one of the nation’s leading and most respected builders has announced plans for an additional 139 homes in the Parkfield master-planned community southwest of Denver International Airport. Parkfield, which is located at East 56th Avenue and Peña Boulevard, is noted as KB Homes’ fastest-growing community in the Denver area. Homes in the community range from 1,409 square feet to 2,453 square feet at start in the $170s.

 

If you’re considering purchasing a new home, let us help you find the home of your dreams. New construction affords buyers low maintenance, contemporary lifestyles, often with access to exciting amenities. Whether you’re looking for a swim/tennis or golf community, or a home that’s convenient to major highways and great schools, we can help you find the new home to fit you and your family’s wants and needs. Call us today!

 

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