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9-Year High in Residential Building Permits

February 21, 2017 – A rosy real estate update via the Daily Sentinel:

“A nine-year high in new residential building permits issued last month combined with last year’s 10 percent hike in home sales is painting a rosy picture of Mesa County’s real estate outlook heading into the new year, according to a Bray Real Estate representative.

Thirty-five residential building permits were issued in January, the highest number of permits in January since 2008 and a 250 percent jump from the same month last year, according to the company’s January 2017 real estate statistics report compiled using the Grand Junction Area Realtor Association Multiple Listing Service.

Bray Real Estate Broker Associate Brian Donaldson said the spike in building permits last month — combined with the fact that the active home listing inventory remained flat between January 2015 and January 2016 — is a sign that home builders are optimistic about their chances with new home construction…

Sales of higher valued homes are on the rise as well, according to Bray’s report. Median home prices increased 11 percent in January as well, another direction carrying over from 2016. The median home price last January was $190,000; last month, it was $210,000.”

Read the full article in Monday’s paper or click here.

Get more information about housing prices and residential communities in Colorado’s Grand Valley here.