More good news on the Market for Denver homes. For the eigth month in a row, homes in the Denver area posted a year-over-year increase in sales prices. Compared to August of 2011, August of 2012 showed an increase in home prices of 5.5%.
In addition to the year over year increase, Denver homes continue to show a monthly increase throughout this year with August numbers increasing 0.5% over July of 2012.
These numbers are for single family, resale Denver homes and do not factor in Denver condos. However, this report does include single family Denver foreclosures and Denver HUD homes.
From the Denver Business Journal:
For the eighth straight month, metro Denver posted a year-over-year increase in home prices in August, at a pace that eclipsed all but four of the nation’s 20 largest markets, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.
Denver prices were up 5.5 percent in August from the same month of 2011, the Case-Shiller report said.
Denver prices also rose 0.5 percent in August from the previous month, not seasonally adjusted, and were up 0.2 percent after seasonal adjustment.
If you would like more detailed numbers on the market or specific figures for a specific area, give our team a call at 303-726-1874. Different areas in the Denver area are showing even stronger gains over the past year.
The report shows Denver as the 5th strongest market with only 4 other metro areas showing a strong improvement (Phoenix, Detroit, Minneapolis, and Miami).