For the ninth month in a rowm prices on Denver homes rose compared to the same month of 2011. In addition, month over month prices rose as well.
Buried in the data is the impressive statistic that home sales rose an incredible 9.2% in a October from October of last year. These numbers include all home sales (Denver foreclosures, Denver short sales and Denver HUD homes).
From the CoreLogic report as outlined in the Denver Business Journal:
“The housing recovery that started earlier in 2012 continues to gain momentum,” Mark Fleming, chief economist for CoreLogic, said in a release. “The recovery is geographically broad-based with almost all markets experiencing some appreciation. [Coastal] and energy states continue to experience the most robust appreciation and some judicial foreclosure states are even recording increasing prices.”
“We are seeing an ongoing strengthening of the residential housing market,” Anand Nallathambi, president and CEO of CoreLogic, said in a release. “Reduced inventories and improving buyer demand are contributing to stability and growth in home prices, which is essential to the long term health of the housing market and the broader economy.”
These numbers match what we’ve been reporting for Denver homes for over a year now. Prices are continuing to increase, albeit slowly, and we expect the trend to continue for the near future.
If you’d like to talk about specific numbers for your area or neighborhood, give our team a call at:303-817-0209.The number of available Denver homes, especially Denver foreclosures and Denver HUD homes, continues to decline. However we are still finding some great deals for our clients on the market.