U.S. residential construction was more active in 2003 than it had been in 25 years, and Castle Pines North was right in line. Denver-area figures, however, were down.
The Castle Pines North Master Association reported 327 new homes closed in 2003, an increase of about 10% from 2002’s 294 new homes.
Interestingly, our growth is in contrast to the metro Denver area. Although final year numbers are not yet available, homebuilding in Denver was down nearly 15 percent through November of 2003. The downturn has been attributed to the slowdown in job growth.
The number of new homes in CPN bodes well for the financial health of CPN, which conservatively budgeted for only 225 new homes last year. The same number is budgeted for this year.
The sale of used homes in CPN was also brisk. In 2003, there were 193 resales recorded, compared to 134 in 2002.