Colorado Homes

Colorado Homes: Colorado's home ownership rate has reached the highest level in more than a decade, riding the coattails of a national surge that has brought ownership levels to near-record highs. Colorado homes recorded a third-quarter 1996 home ownership rate of 64.8 percent, meaning that nearly 65 percent of all households in the state own their own homes. Nationally, the rate was 65.6 percent, a fraction under the all-time high of 65.8 percent, according to the U.S. Department of Housing and Urban Development. While the percentage of Colorado home ownership was short of a record, the actual number of U.S. households that own homes - 66.3 million - is the highest in recorded history.

Colorado homes officials attributed the increase to a strong economy, low interest rates and recent federal initiatives to make home ownership easier for minorities and other underserved markets. The Colorado homes report showed that minorities lag far behind whites in home-ownership rates. Nationally, 71.8 percent of white households own homes. African-Americans lag behind at 44.5 percent, followed by Hispanics at 43.5 percent. Households headed by women have a rate of 50.6 percent. Ethnic breakdowns for Colorado's homes third-quarter ownership rates were not available. "We're trying to understand the barriers to home ownership and address them," said Hernandez, Colorado Homes Rocky Mountain regional administrator.

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Colorado Homes

Colorado home-building giant Pulte Home Corp. plans to begin selling Colorado homes late this year in Colorado Springs priced at less than $ 100,000. Only a handful of new single-family Colorado homes have been sold in El Paso County for less than $ 100,000 this year. About 20 percent of the 4,485 previously occupied homes sold so far this year have sold for less than $ 100,000, according to National Home Builders Report Inc. "We have been watching the Colorado homes market for two years, and based on that, we think there is a real market for this product, especially for those living in apartments. Pulte has agreed to buy 200 lots in Ridgeview and is negotiating additional Colorado homes lot purchases there and in other developments, Staky said. Colorado housing experts say lower-priced homes will be eagerly sought in a market where housing costs have been rising faster than wages.

Colorado Homes: Inspired by October 23, 1996 article from Denverpost.com

 

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