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Unformatted text preview: 2002 through 2008 to a slight decline
in 2009 and a 2% increase, to $261,656, for 2010.
Although low demand continues to limit material
and labor cost increases, preliminary census data
indicate higher average values, perhaps a result of
a shift to somewhat larger homes compared with
the past two years. This results in the forecasting of
a 5% increase in permit value per unit in 2011, to
$275,000, and a 3% increase in the following year,
to $283,250. Multifamily Housing
Multifamily permit activity grew in 2011, but
remained well below levels for 2003 through
2008, when an average of 7,000 units per year
were permitted. Expectations are for 3,600 units
to be permitted in 2011, an uptick of 29%. Most
of the growth resulted from increased apartment
construction in Front Range metro areas. In other
parts of the state, apartment activity remained subdued or fell slightly. Condominium construction continues to be depressed throughout
Rental markets tightened in most areas of the state
in 2011, and Front Range a...
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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.
- Spring '13
- The Lottery