Denver Homes: Prices Up 9.2% From Last Year

We continue to see positive numbers in all reports detailing the market for Denver Homes. the latest is a CoreLogic report detailing the numbers for November (the latest numbers available).

The report (detailed at the Denver Business Journal), shows that prices increased in November 2012 by 9.2% when compared with November of 2011. In addition, the prices for November show an increase in 0.3% from October.

These numbers include all homes sales, including “Denver Distressed Properties” (Denver foreclosures, Denver Short Sales). Not all reports from other sources do, so it is important that you compare “apples-to-apples” when looking at numbers.

More details from the Denver Business Jounal:

The streak continues for metro Denver home sale prices: 10 months in a row of year-over-year price increases through November, according to the CoreLogic Inc.’s home price index report Tuesday.

Those prices for the Denver-Aurora-Broomfield area (which does not include Boulder County) grew 9.2 percent in November 2012 compared to the same month a year earlier. Prices were up 0.3 percent from October, CoreLogic said.

The figures include all sales, including sales of “distressed” properties by a lender.

Without those distressed resales, prices still increased 7.7 percent in November compared to November 2011, and were up 0.5 percent from October.

Nationally, home prices rose by 7.4 percent in November 2012 from a year earlier, including distressed sales — the biggest increase since May 2006.

The total number of Denver Foreclosures has continued to drop as more banks streamline the process for Short Sale approvals.

As always, the numbers for different neighborhoods vary, so give our team a call and we can run an area specific report for you.



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