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Housing Numbers needed for CO
It’s interesting to look at what population growth means for housing. On average, along the Front Range, 2.5 people live in each housing unit.
What that means is 4 housing units are needed for every 10 people who live here. So, for every 1000 new people moving to our area, 400 new housing units are required.
The population of Metro Denver is just under 3,000,000 and the population of Northern Colorado is just over 650,000.
Assuming the Front Range grows in population at 2% per year, that means 60,000 new people in Metro Denver and 13,000 new people in Northern Colorado each year.
To house those people, 24,000 new housing units need to be built per year in Metro Denver and 5,200 in Northern Colorado.
All Time High
Home Builder’s confidence in Baby Boomer buyers is at an all time high.
The National Association of Home Builders (NAHB) surveys their members each quarter to discover what they expect of future sales.
The builders base a large part of their answer on how many people are visiting their sales centers and model homes versus the same time last year.
The results in their most recent survey show that builders have never been more confident about buyers who are 55 and older.
The confidence index for this age group is actually double of what it was in 2012. The NAHB sites low interest rates and strong job growth as the reasons for the high confidence.
