The star of the 2011 residential market is the

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Unformatted text preview: t another year of stabilization in 2011 with modest improvements in 2012. The star of the 2011 residential market is the multifamily market, which will soon be faced with an influx of new supply to incorporate. However, weak job growth and consumer confidence are supportive of the rental market, and potential 2012 Colorado Business Economic Outlook home buyers remain on the sidelines until the market direction is more stable. The Federal Reserve’s stated intent to keep interest rates low will continue to support the housing market. The Freddie Mac Primary Mortgage Market Survey reported that an average rate for the conventional 30-year fixed mortgage dipped below 4% for the first time in history in 2011. Low interest rates are helpful but meaningful job growth and increased income levels are necessary to provide a major recovery. For-Sale Existing The existing residential market faces economic uncertainty, along with financing and credit challenges, that has many buyers sitting on the sidelines. Modest signs of improvement have been seen in 2011 compared to the previous year, particularly in the Denver Metro region, 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.

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