Building permits are at their highest compared to the last couple years in Grand County, CO - and it is only August. More building permits means more new construction and more remodeling. Even with the good news for the real estate industry, we are still "cautiously optimistic."
The Winter Park building department, which serves Winter Park, Fraser and Granby, reports that permits for improvements still outnumber those for new construction and is nowhere near the 2007 levels. But permits for new homes are still on the rise, slowly.
And you can see evidence of this throughout Grand County... Grand Park, The Reserve at 10 Mile Creek (near the Granby Ranch entrance off Hwy 40), and of course a few single family homes..... And Cozens Pointe condos has plans to start construction on a new building this fall, too.
For economists and the US Census Bureau, building permits are a leading indicator signaling a change in the economic climate. New construction can drive other economic activity like construction jobs and real estate transactions. The US Bureau of Labor and Statistic data shows Colorado construction industry jobs slowly climbing, but numbers are nowhere near where there were several years ago.
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