More positive numbers are out today for the Denver homes market. For the past 9 months, we have been citing statistics and reports showing the declining inventory of Denver homes, the increasing demand and the decreasing inventory of Denver foreclosures. Today, a report by Case-Shiller shows that prices in the Denver housing market have risen for the fourth straight month.
From the Denver Business Journal:
For the fourth straight month, metro Denver posted a year-over-year increase in home prices in April, at a pace that eclipsed all but three of the nation’s 20 largest markets, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.
Denver’s four consecutive months of year-over-year price gains followed 18 months of declines, according to the closely-followed monthly report on average home-resale prices from Standard & Poor’s.
Denver prices were up 2.8 percent in April from the same month of 2011, the Case-Shiller report said. That followed year-over-year gains of 2.6 percent in March, 0.5 percent in February and 0.2 percent in January.
These rising prices are the logical outcome of decreasing suply and increased demand. The big question mark is just how many Denevr foreclosures banks have in their inventory waiting to be released and if the banks will choose to sell these as foreclosures or as Denver short sales.
As always, you can reach our team of expert agents anytime by calling 303-726-1874. We can supply you with the detailed statistics for your specific area or the entire market of Denver homes.