Denver Home Prices Rise For Second Consecutive Month

Dated: 07/01/2014

Views: 1358

Whether you’re looking to downsize or relocate, if you’ve been on the fence about putting your home on the market, here’s a bit of news that may encourage you to take the plunge.  Recent reports from the S&P/Case-Shiller Home Price Index indicate that for a second straight month, Denver-area home-resale prices set a new all-time high in April 2014, with average prices up 8.9 percent from a year earlier.  Denver's Case-Shiller home price index reached 150.59 in April, exceeding the city's previous 148.20 record set in March.

The Case-Shiller report series from S&P Dow Jones Indices LLC, tells us an index reading of 150.59 means that local home resale prices averaged 50.59 percent higher than they were in the benchmark month of January 2000.  The report also said that average metro-Denver home-resale prices were up 8.9 percent in April from 12 months earlier, which is only the second time since January 2013 that Case-Shiller reported a year-over-year price gain of less than nine percent in Mile High City.
Furthermore, April was the 28th consecutive month with a year-over-year gain in Denver prices, according to Case-Shiller data. Month to month, Denver-area home prices increased an average of 1.6 percent in April from March levels, following March's 1.4 percent gain from the previous month.
Across all 20 major U.S. cities that Case-Shiller covers, home prices jumped an average 10.8 percent in April from a year earlier, a smaller year-over-year gain than March's 12.4 percent and February's 12.9 percent. Month to month, prices increased 1.1 percent in April from March levels across the 20 cities.
The 20-city average Case-Shiller price index in April was 168.71. The city with the greatest gain since 2000 was Los Angeles (with an index of 219.47), followed by Washington (207.81). Detroit was the only city with prices still below 2000 levels (an index of 95.03).

Ken Blevins

Ken Blevins, Chief Executive Officer of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 23 years of experience in collections, foreclosure/bankruptcy, los....

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