Denver Homes Prices up from 2011; 1st Year-Over-Year Rise in 19 Months
Some more good news for Denver homes today. According to the latest S&P / Case-Shiller Home Price Index, for the first time in 19 months, the Denver metro area has posted a year-over-year increase in Home Prices.
Again, this news adds to the growing evidence that both the shrinking inventory, increased demand and low interest rates for Denver homes are having a very positive affect on home values.
From The Denver Business Journal:
For the first time in 19 months, metro Denver posted a year-over-year increase in home prices in January, according to the latest S&P/Case-Shiller Home Prices Index.
It was a small increase, up just 0.2 percent from January 2011, according to the closely-followed report from Standard & Poor’s . Still, Denver was one of only three cities out the 20 tracked by the report to show a year-over-year price rise.
The average for the 20 cities was a decline of 3.8 percent. The only other cities with year-over-year gains were Detroit (up 1.7 percent) and Phoenix (up 1.3 percent).
Metro Denver’s January gain followed small year-over-year declines of 0.4 percent in December 2011 and 0.2 percent in November 2011.
Much of this has to do with the declining inventory of Denver foreclosures and Denver HUD homes.
If you would like to talk more about Denver homes or have questions about the market in your neighborhood, give our team a call at 303-726-1874.
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