According to new data released by the Census Bureau, new home sales in the West region, including Colorado, fell 16 percent in August 2011, which is the lowest level in 10 years.

Inventory of new single family homes is low.  "The number of new homes for sale has also fallen off considerably." reports Ryan McMaken of the Colorado Division of Housing, "The number of new houses for sale in the West has fallen 74 percent since the total peaked during June 2007, and the same total has fallen 71 percent in the US since the number of new homes for sale peaked in the US during August 2006."

All of this is good news for homeowners trying to sell their existing home, suggests McMaken.

Read the full report at Colorado Division of Housing.

Posted in New Home Builders, National News

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