Some good news for Denver Homes this morning from Case-Shiller via the Denver post. For the 4th time in the last 5 months, Denver homes prices showed an increase. This is in line with what we’ve been reporting her for months now. Denver’s housing market is recovering, slowly, but it is trending upward.
Much of this has to do with the fact that Denver encountered housing issues before the rest of the country and is now coming out of it sooner. In addition, the prices of homes, and resulting Denver foreclosures, never dipped to the extent that it did in many other areas of the country.
But Denver home prices rose 0.4 percent in August from the previous month, better than the 20-city composite growth rate of 0.2 percent.
Denver home prices were flat month over month in July but rose in April, May and June from the previous months, with increases ranging from 1.4 to 1.6 percent. Before that came 10 straight months of price declines from the previous month.
Among the other 19 cities covered by the report, the only places to see a year-over-year home-price gain in August were Detroit (up 2.7 percent) and Washington (up 0.3 percent).
We’re seeing a steady demand from buyers, and yesterday’s news that Denver HUD homes will be included in the $100 down program should help this as well. If you’d like to talk about this or just have questions about Denver homes in general, give our team a call at 303-726-1874.