Home prices still show few signs of rebounding, although the price declines show only slow and steady drops. Consumer prices headed up at the fasted pace since the boom times and the multifamily markets continue to look more and more dynamic as new housing starts surged in September across the West.
September was one of the best months for job growth in 42 months. The state added 34,000 jobs in September, compared to September of last year. The decline in the unemployment rate places Colorado 24th among all the states. The job market was best in the fort Collins area, and worst in the Grand Junction area.
Condo prices in the state show less resilience than do single-family home prices, although single-family prices continue to show slow and steady declines. As sales activity declined, however, regional remodeling activity increased. Regional existing home prices fell also, according to NAR, but sales activity was up, year over year.
Multifamily housing starts surged in the region while single-family starts showed only mild increases.
Consumer price increases hit a 3-year high in the West during September.