There is more good news to report for the market and prices of Denver Homes. The latest CoreLogic report shows that for the 11th straight month, Denver home prices have have increased year over year. The latest numbers available from are for December of 2012 and show that prices for Metro Denver Homes rose by 9.5% from December of last year.
This is a very significant increase and shows that the Denver market is on a steady uphill climb. These numbers include “distressed properties” (Denver foreclosures and Denver Short Sales). If those Denver distressed Properties are taken out of the calculations, the price increase is still 8.3%.
Those prices for the Denver-Aurora-Broomfield area grew 9.5 percent in December from a year earlier, including all distressed property sales, the report states. Though prices slid slightly from November to December, 0.5 percent, that’s normal for the annual seasonal slowdown.
Without the distressed — short sales or real estate owned (REO) property — prices grew 8.3 percent year over year and 0.1 percent from November 2012, CoreLogic said.
Another national report released Tuesday, home sales data website company Trulia (NYSE: TRLA), labeled Denver’s market “booming” with “big price increases and healthier market fundamentals” along with San Francisco, Seattle, San Jose and Salt Lake City. No specifics about the Denver market were provided in the report.
Nationally, home prices increased 8.3 percent from December 2011, the biggest increase since May 2006.
These Coreogic numbers are very close to the other market numbers we have been reporting and are consistently increasing even when Denver foreclosures and Denver short sales are taken out of calculations. If you are thinking of buying a home, waiting may cost you $1,000’s of dollars. With prices rising and interest rates starting to creep up, now is the time to buy.