Real Estate and New Home Construction in Denver

Yesterday I spoke with two of my friends from my Karate Dojo.  One is a realtor and the other owns a new home construction company.  I just wanted to get a feel for how the economy is affecting their businesses.

The realtor told me that he is as busy as ever, but the average closing price is much lower than at this time last year.  Last year, his typical home sale was in the $200,000 – $300,000 range.  This year it is much closer to $100,000.  He says that many of the home buyers are first-time buyers trying to take advantage of the $8,000 stimulus checks being cut by the federal government.

My other friend’s construction business has been at a standstill for the last several months.  He is barely hanging on.  However, he did say that he has a new project beginning in a month.

I plan to keep my ear to the ground and report on what other business owners in the Denver area are telling me about their businesses over the coming weeks and months.

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