It’s still happening. Another month and another gain for prices of Denver Homes. July marks the 19th straight month that Denver has showed a year-over-year increase in home prices (9.7%) according to the S&P/Case-Shiller report.
This continues to be great news for home owners and seller. However, buyers continue to struggle with the increasing prices and slowly rising interest rates. The latest stats from Metrolist show that we have roughly a 2 month supply of homes on the market. Traditionally, a “balanced” market should have 6 months of supply.
Here is a link to the full article in The Denver Business Journal:
The resale price of Denver-area homes set a new record in July, according to the newly released S&P/Case-Shiller Home Prices Index.
The widely followed gauge of home prices in 20 U.S. cities showed Denver-area prices rose by 9.7 percent in July from a year earlier. That’s the 19th consecutive month Denver has had a year-over-year gain, and the third month for a new all-time high.
Denver’s Case-Shiller price index for July was 145.63, meaning that local home resale prices averaged 45.63 percent higher than they were in the benchmark month of January 2000. The index reached a record 140.98 in May, and set a new record when it hit 143.37 in June.
As always, the values of homes in each neighborhood and city can vary. If you would like us to compile a complete statistical report for a particular area, give us a call at 303-726-1874.
Denver foreclosures and Denver short sales have dropped drastically in many areas, but there are still neighborhoods where values have yet to reach their full potential. Give us a call for a complete breakdown.