Tuesday, May 24, 2011

Housing News Digest, May 24

2010 Census: Colorado has net gain of 56,310 residents in 2009-10

Colorado saw an influx of 210,939 people from other states and abroad from 2009 to 2010, the U.S. Census Bureau reported Monday.
The Denver-Aurora-Broomfield metro area picked up 89,883 people from other states and abroad during that time period, the bureau said.

Work begins on apartment complex on north side

Construction has started on a 230-unit, upscale apartment complex southwest of Woodmen Road and Union Boulevard on Colorado Springs’ north side, one of the few new multi-family projects launched in recent years.

Talos Holdings, a Utah-based company that acquires and develops apartment projects, plans to open the first units in December and complete the complex in June 2012, said company president John McWilliams.

April new home sales rose 7.3%
Sales of new single-family homes rose 7.3% in April from a month earlier, easily topping most analyst estimates.

The Commerce Department said the seasonally adjusted rate of 323,000 units last month was up from 301,000 for March, which was revised upward slightly. April new home sales were down 23.1% from 420,000 a year earlier.

Watch for strategic defaulters, economists suggest after studying Countrywide data
Homeowners at least two-months delinquent on their mortgage may be more apt to strategically default if offered a mortgage modification despite the damage to their credit.

A new report sponsored by the National Bureau of Economic Research studied the mortgage modification program Countrywide Financial Corp. started after settling federal deceptive-lending charges in 2008.

Malone: Keep Barnes & Noble retail space
Malone is offering $1 billion for the chain of book stores. Even as Barnes & Noble continues to make inroads into the sale of digital books and electronic readers, Malone says “there will be a physical presence for a long, long time to come, and it will be a profitable physical presence."