The Denver market saw an increase in closings of new homes in May year-over-year, according to Hanley Wood’s Builder Local Markets newsletter.
But with an increase less steep than that of April 2012, the market seemed to be showing signs of evening out.
Closings rose 1.8 percent from a year earlier to 343. In April, the housing market saw a 5 percent rise year-over-year.
A total of 3,751 new homes were sold during the 12 months that ended in May, up from 3,745 for the year that ended in April.
Out of all housing closings, new home closings accounted for 6 percent. A year ago, new home closings made up 6.7 percent. For new and existing homes, closings climbed year-over-year in May after also increasing in April year-over-year.
The average price of new homes was $383,503 per unit in May, up 8.6 percent from a year earlier. The rise follows a move from $379,824 per unit to $380,882 from April 2011 to April 2012.
