Economic recovery being driven by housing

September 06, 2012

KUSA-TV

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.”