Construction / real estate.

39,300 The optimistic forecast for new, single-family homes in 2014. The more conservative figure comes in at 29,100

HOUSING

The forecasts devoted more time to the housing market than any other sector of the economy. Housing is critically important for a number of reasons:

* Construction creates many high-paying jobs in Colorado, nearly 170,000 at the peak of the last housing cycle in June 2007. Construction jobs declined 34 percent over the ensuing four years, a major factor in the Great Recession.

* Home equity has traditionally been a substantial source of wealth. It allows households to borrow for large or unexpected expenses, provides startup capital for entrepreneurs and is an important part of many retirement plans.

* When individuals are unable to sell their homes, they usually cannot relocate to find new or better jobs. This has been a major problem in recent years, boosting unemployment and decreasing the labor participation rate.

COMMERCIAL

Most of the forecasters expect the value of nonresidential building contracts to come in at about the same level as 2013. Binnings is the optimist here, forecasting a 20 percent increase. Patty Silverstein, of Denver Research Partners, looks for an Increase in downtown Denver office and industrial space in the 1-70/1-225 corridor but declines in other parts of the city.

Real estate...