2012beof-111206092256-phpapp02

4 nonresidential 27129 32914 42212 46411 52595 41167

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Unformatted text preview: Total Construction $8,971.1 11,341.7 13,024.6 13,349.2 12,676.5 8,158.4 5,627.4 5,870.3 5,797.5 6,288.4 $1,731.8 1,753.8 1,787.8 3,446.3 2,003.6 2,542.4 1,648.4 2,214.4 2,049.0 2,200.0 $10,702.9 13,095.5 14,812.4 16,795.5 14,680.1 10,700.8 7,275.8 8,084.7 7,846.5 8,488.4 a Revised. b Estimated. c Forecast. Sources: Department of Census; F.W. Dodge Company, Division of McGraw-Hill; the Colorado Contractors Association; and Colorado Business Economic Outlook Committee. PAGE 25 29 2012 Colorado Business Economic Outlook Construction continued from page 29 of Colorado distressed transactions (lender real estate owned [REO] sales and “short sales”) increased in the first half of 2011 despite a 28% drop in new foreclosure filings. Still, foreclosures will continue to be a drag on the market for several years, with little anticipation of home price appreciation. The chief economist for Wells Fargo estimated in mid-2011 that 20% of Colorado homeowners hold mortgage balances higher than the value of...
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