Economic recovery being driven by housing

September 06, 2012


The sales of homes and condos in the Denver market continue to show strong growth. According to data released by Metrolist, residential sales in August 2012 rose a staggering 18 percent over the same period in 2011. Sale prices also rose a full 10 percent higher in August 2012 over August 2011. It is a continuation of several months of improving numbers.

“For a long time now many economists have said that we really won’t be into a recovery until we see the housing market recover, and so numbers like this suggest that we may be getting to that stage,” said Mac Clouse, a professor of finance at the Daniels College of Business. “It’s big, very, very big because it involves so many things: constructing the building, the materials industry and it involves the financial institutions,” Clouse said. “So it has its outreach in so many areas of the economy that it is a very big sector.”