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Slow, Steady Job Growth Forecast for Colorado in 2012

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• In 2012, that will increase to 114,000 industry jobs

• A 3% decline in single-family home permits to 8,500 in 2011

• An increase to 9,350 single-family permits for 2012

• A 5% increase in average permit value per single-family unit in 2011, to $275,000

• A 3% increase in average permit value per single-family unit in 2012, to $283,250

• A total of 3,600 multifamily units will be permitted in 2011, up 29%

• A total of 4,000 multifamily units will be permitted in 2012, nearly all in apartment construction

• The average value per multifamily unit declined in 2011, to about $100,000

• The average value per multifamily unit is expected to increase in 2012, to approximately $110,000

• The nonresidential building sector increased 4.5% in 2011, to $3.1 billion. This sector will be flat in 2012, projected at $3.2 billion.

• Total nonbuilding project starts in 2012 will increase by 7.4%, to $2.2 billion.

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