2012beof-111206092256-phpapp02

The chief economist for wells fargo estimated in mid

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Unformatted text preview: their homes. Positive Indicators Record low mortgage interest rates will likely continue to support housing market demand through 2012. In 2011, the Federal Reserve made the highly unusual public statement of its intent to maintain low interest rates for two years. The number of new single-family home sales for the Front Range declined by 5.4% through August 2011 relative to the corresponding period in 2010. However, this comparison includes the early 2010 RESIDENTIAL BUILDING PERMITS By TyPE RESIDEnTIAL BUILDInG PERMITS BY TYPE 2003 - 2012 2003–2012 Year Single Family Multifamily Total Housing Units 2003 2004 2005 2006 2007 2008 2009 33,837 40,753 40,140 33,000 21,087 11,147 7,231 8,790 8,500 9,350 5,732 5,746 5,751 7,978 9,333 7,851 2,087 2,801 3,600 4,000 39,569 46,499 45,891 40,978 30,420 18,998 9,318 11,591 12,100 13,350 2010a 2011b 2012c a Revised. b Estimated c Forecast. Sources: Department of Census and Colorado Business Economic Outlook Committee. 30 PAGE 26 tax-credit period—closings i...
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