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Home Resale Price Growth Still Climbing In Denver
Data from the latest S&P/Case-Shiller Home Prices Indices report reveals that Metro Denver's year-over-year gain in home-resale prices stood at 8.4 percent in February, almost an entire percentage point higher than the annual gain the previous month. The Case-Shiller report series is based on non-seasonally-adjusted data.
In February, only three major U.S. cities showed greater year-over-year price increases out of 20 large markets tracked by the Case-Shiller report series: Seattle (up 10.1 percent from the previous February), Las Vegas (up 11.6 percent) and San Francisco (up 10.1 percent).
Other report highlights include:
Denver surpassed Los Angeles this month, though just barely — LA was up 8.3 percent from the previous February.
Denver tied with Detroit with an 8.4 percent annual gain.
The average year-over-year increase for all 20 cities, as well as the national price gain, was 6.3 percent in February.
As for month-to-month price changes, Denver-area resale prices were up 0.7 percent in February from the previous month, topping November's 0.4 percent increase. That rate matched the 20-city and national monthly average gain of 0.7 percent.
Denver's Case-Shiller home price index in December rose to a new record of 207.83. That means that local home resale prices averaged 107.83 percent higher than they were in the benchmark month of January 2000.
While the market doesn’t show many signs of cooling the Denver area, there are still some solid deals to be found. That is, if you know where to look. Ready to check out what Denver and the surrounding areas have to offer? Contact Metrowest today – we’d be happy to show you around!
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