According to the S&P CoreLogic Case-Shiller Indices for June, home price gains are continuing to slow across much of the country, including in metro Denver, where they are starting to move in line
Denver Home Price Gains Leveling Out With Rest Of US
According to the S&P CoreLogic Case-Shiller Indices for June, home price gains are continuing to slow across much of the country, including in metro Denver, where they are starting to move in line with the U.S. average.
Other highlights from the report include:
Home prices in the U.S. rose by 3.1 percent in June, marking the 15th consecutive month of slowing home price appreciation.
Denver, which for years had a sizable lead over the U.S. as a whole, is now seeing annual home price gains running closer to the pack at 3.4 percent.
Phoenix took over the top spot after pushing aside Las Vegas in June, while Seattle, which had led the country in recent years for price appreciation, continues to decrease in value.
In a recent blog post, Ryan McLaughlin, deputy chief economist at CoreLogic, said the home prices in Seattle dropped for the third month in a row, while San Francisco inches closer to seeing its first home price drop since 2012.
McLaughlin is in the camp of those who are counting on lower interest rates to not only push up refinancings but also home purchases. He predicts that if that happens, then home price gains should strengthen in the second half of the year.
While not designated as a buyers’ market quite yet, things are cooling a bit in the Denver area. With low mortgage interest rates and steadily rising inventory, now may be the perfect time to become a homeowner. If you’re interested to see what Denver has to offer, contact Metrowest today – we’d love to show you around!
Brent was born and raised in Colorado and enjoys all that the state has to offer. Brent is a graduate of Metropolitan State University of Denver, where he received a BS in Business Management. After ....
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