Friday, May 25, 2012

Housing News Digest, May 25

Permits to build single-family homes in Colorado up
DENVER — Interest in building homes in Colorado appears to be growing.
State housing officials say that through the first three months of this year, permits for single-family home construction in Colorado are up 34 percent compared with the same time last year

Home/condo vacancy rate is at 1.6 percent Less than 2 percent of the rental homes and condominiums in the Denver metro area were vacant in the first quarter, according to a new study that the Colorado Division of Housing released Thursday.

Colorado bank profits jump in Q1 Colorado banks continue to increase their profitability, with insured institutions reporting $99 million year-to-date net income as of March 31, compared with $56 million in the first quarter of 2011, according to Federal Deposit Insurance Corp. data released Thursday.

 Oakwood completes purchase of portion of Banning Lewis Oakwood Homes completed its purchase Wednesday of 2,600 acres of the northern portion of the Banning Lewis Ranch in Colorado Springs, breathing new life into a property beset by the financial troubles of previous owners.

 Fed releases Ally foreclosure review plan The Federal Reserve released a plan between Ally Financial and third-party consultant PricewaterhouseCoopers, hired to conduct the independent foreclosure review. The release also included an action plan from Citigroup ($26.66 0%), updating the Fed on its implementation of consent order requirements agreed to in April 2011. The Fed also included a letter from HSBC ($40.28 -0.24%) covering how the bank plans to implement single-point-of-contact requirements under the consent order.