The 2011 ratio of new home closings to real estate

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Unformatted text preview: -to-date declines in foreclosure activity so far this year. The 2011 ratio of new home closings to real estate owned (REO) closings in the Denver-Aurora MSA ranks 69th in the nation, at 0.3%, compared to 3.1% five years prior, according to Hanley Wood Market Intelligence. Rental Market A net increase of 1.4 million U.S. households, or 4%, moved into rental housing in the year ending June 2011, according to the Census Bureau. Meanwhile, U.S. homeownership slipped 1.5%. Notably, younger households are driving much of the rental demand as they postpone home ownership either due to job uncertainty or other economic strains. Ownership rates for heads of households under 25 years of age dropped 4.4% in the last year compared to 7% decline for household heads between 25 and 29 years of age. The overall composite Colorado vacancy rate fell to 5.2% at midyear 2011, from 5.8% at year-end 2010. For comparison, the overall vacancy rate in 2008 was 8%, according to the latest Colorado Multi-Family Housing Vacancy and Rental Survey. Second quarter vacancy rates varied for the...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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