Denver Homes: Prices up 8.4% in a Year!

Some more fantastic news was released today regarding sales and prices for Denver homes! According to the latest report from CoreLogic, their Home price Index (HPI) for the Denver metro area grew 8.4% in July compared to July of 2011!

THis number includes all homes, including Denver distressed properties (Denver foreclosures and Denver short sales) and is over twice what was reported for the increase in the national HPI.

From the Denver Business Journal:

The Denver real estate market continues to ride a wave of recovery as evidenced by gains in home sale prices, according to the CoreLogic Inc. home price index (HPI) report released Tuesday.

The HPI in the Denver-Aurora-Broomfield area, including distressed sales, grew 8.4 percent in July from the same month in 2011, the report states. That’s the sixth month in row that market’s HPI has grown year-over year.

That’s also a 1.8 percent increase from June’s revised HPI of 6.6 percent, according to CoreLogic. The company often revises prior month’s HPI as public records data is updated.

Nationally, the HPI grew 3.8 percent in July from the July 2011 index. CoreLogic noted that was the biggest year-over-year increase since August 2006.

While the fact that prices increased was not a surprise to us, the amount of the increase was. 8.4% over a year is not a small figure and when compared to the national figures, this is a very positive sign.

Even more encouraging is that these numbers factor in the Denver foreclosures and Denver short sales that have tended to weigh down some past reports.

If you would like more information on this report or would like to speak with our team about Denver homes in general, give us a call at 303-726-1874.



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