Tuesday, March 26, 2013
Colorado Division of Housing
New single-family home sales in the U.S. West were up 505 percent from February 2012 to February 2013, coming in at 12,000 new homes for February 2013, which was the largest number of new home sales in any month since April 2008. According to a new report released today by the census bureau, 2012 showed growth in new home sales over 2011 overall, and in February new home sales have moved have continued to move up significantly.
The first graph shows monthly new home sales totals for each month since 2003. 2012 was clearly the most active year since 2009, and February’s total reinforces predictions that 2013 will be another growth year for new home sales. This prediction would rely on continued low interest rates and avoidance of a recession. We can also see that February’s new home sales total was the highest number reported for the region since 2008.