ATTOM’s Building Permit Data for Denver, Colorado

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Building Permit Applications Are Up in Denver, CO

Homeowners across metro Denver, CO, are spending significant amounts to renovate and remodel their homes, which is reflected in Denver building permits data. The COVID-19 epidemic turned homes into offices and home-school classrooms practically overnight as people were asked to work from home and schools switched to remote learning.
Building Permits Data
Permit Data
A report by Harvard University predicted a drastic reduction in home improvements for 2020 and 2021, but, in fact, the opposite occurred. Remodeling was up by more than 4 percent by the first quarter of 2021. Stuck in their homes and unable to travel, many people spent their money on making their immediate surroundings more tolerable instead. Families tapped into home equity to fund interior refreshes, refurbish outdoor spaces, and remodel kitchens and bathrooms.
Home improvement companies are reporting increases in revenues of 50 percent since 2019. Home values in Denver are up over 80 percent since 2010. Incomes have not kept pace, but property data show that mortgages have been manageable because of recent low interest rates.

Low interest rates have actually created a buying boom, reducing the inventory of homes for sale in metro Denver to historic levels. Owners who have lived in their homes for a long time have built up significant equity, which means they can obtain a building permit and remodel their homes rather than buy a costly new house in a seller’s market.

Building Permits Delays
Out of Stock
Contractors are finding it hard to source materials due to supply chain disruptions caused by the pandemic. For example, the cost of plywood is up 30 percent, and materials like LED lights and siding can take months to arrive once ordered. Labor shortages due to sick workers are adding to costs and completion timelines.
How these residential renovations and commercial projects in the city will fare as time goes on is uncertain. ATTOM’s building permit data show evolving trends in property improvements and changing property values before market prices catch up.
Identify post-sale and pre-sale improvements in homes and better gauge investment risk.

ATTOM’s Building Permits Data Tells the Whole Story

ATTOM’s building permits data shows the real story behind a residential or commercial property so that valuers and investors can better understand a property.

  • Classification of Permit Type (i.e., Solar Installation, Foundations, Roofing, etc.)
  • Permit Status
  • Cost of Job
  • Description of Job
  • Contractor Information

Insurance companies, real estate professionals, marketers, property investors, appraisers, and hedge funds can better assess a property’s risk and value using ATTOM’s property data.

Be better informed with ATTOM’s building permits data.

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