National homebuilders in Denver area plan for economic rebound by buying house lots
Despite softening sales in the new-home market, national homebuilding companies in the Denver area are continuing to buy lots, significantly driving up prices from where they were a year ago.
It’s part of their push to have communities to build in when their existing inventory runs out and to position themselves for an economic turnaround.
The push to buy lots comes even as sales of new homes collapsed in May, falling 18.3 percent nationally compared with the same period last year.
“At the end of last year, we had just one active community that we could still sell homes in in 2011,” said Matt Janke, director of land acquisition for Meritage Homes’ Denver office.