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That's the backdrop as potential homebuyers in the mile-high city pile up and the supply of homes for sale continues to fall. Fierce competition pushes home prices higher at one of the fastest rates of any local market in the nation. Housing industry veteran Gene Myers says he could be adding 50 percent more homes if he just had the people to build them. After weathering more than one recession, not to mention the worst housing crash in history, Myers says he has never seen anything like this. "Especially the fact that it seems like we're at capacity at such a low level of actual absorption [sales]," said Myers, CEO of Thrive Home Builders, a midsized, privately owned builder in Denver. "In previous recessions, when we've recovered, we tend to see prices go up and labor starting to get tight after we've recovered to at least an average absorption." He noted that Denver's average sales rate would normally be about 15,000 homes per year, and the market is now operating at just over half that rate. "We're feeling so much stress on the capacity of the industry." Denver housing starts in 2016 were 22 percent higher than in 2015, but production is still historically low since the housing crash. Homes with base prices above $400,000 now represent 68 percent of the market, and homes priced above $500,000 represent 27 percent, according to Metrostudy, a housing analytics company. Both all-time highs are being fueled by steady demand from move-up buyers coupled with the rising costs of land, labor and materials. Thousands of construction workers left the industry during the recession, many of them heading to the energy sector. The assumption was that they would return when energy lagged and Construction loan Melbourne Oak Laurel Yarraville homebuilding recovered.