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Unformatted text preview: g from 11%
in the first seven months of 2010 to 19% in 2011.
Disciplined single-family builders have kept building activity modest.
Through the first half of 2011, new home sales
activity appears to be on a similar level as two years
prior, according to the Genesis Group’s midyear
report. Metro Denver new home sales in 2009 and L
new home building activity in the
multifamily submarket has been
notably strong. 2010 were at their lowest levels since 1990 despite
two decades of population growth.
Foreclosure activity has steadily declined in 2011,
although there is speculation that bank behavior
may change, resulting in increased foreclosures
in the remaining months of 2011 and into 2012.
National foreclosures are down on 38% on a yearover-year basis in September, but RealtyTrac data
revealed a sharp increase from July to August 2011.
Still, September was the 13th-consecutive month
of year-over-year declines. There was also a less
than 1% increase from second to third quarter for
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