Whoop Whoop! More good news for Denverites and their real estate investments.
From the Denver Business Journal click here for the full article!
Denver-area home prices rose 6.9 percent in October from the same month a year ago, the 10th consecutive month that metro Denver posted year-over-year price increases, according to the latest S&P/Case-Shiller Home Prices Index, released Wednesday.
Denver’s index value stood at 134.03 for October, according to data from the closely followed real estate report series from Standard & Poor’s. That index was flat from September’s index value of 134.01.
Seasonally adjusted, Denver prices were up 0.5 percent in October from the previous month.
The peak index reading for Denver was 140.28 in August 2006.
On average, prices in the 20 big markets tracked by the Case-Shiller report rose 4.3 percent in the 12 months that ended in October.
Only New York and Chicago had year-over-year price declines in October, the same two cities with declines in September. The 20-city average month-to-month loss in October from September was 0.1 percent, not seasonally adjusted.
The prices are for resales of stand-alone single-family homes only, not for new construction or condominiums.
The Case-Shiller report assigns index values to 20 cities based on current average home prices in relation to what they were in January 2000.
It’s compiled by comparing matched-price pairs for thousands of single-family homes in each market. Standard & Poor’s and Fiserv Inc. publish it.
Click here to download the latest S&P/Case-Shiller report.
Case-Shiller is one of several popular measures of home prices, using different methodologies, covering different housing types and geographical areas, and giving somewhat different results.
*Dennis Huspeni covers real estate and retail for the Denver Business Journal