Home prices in metropolitan Denver increased 1.6 per cent in the second quarter and they rose from the previous month for a third straight month, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday. Twelve of the 20 metropolitan statistical areas surveyed have increased for three consecutive months, a sign of seasonal strength, the report said. Nineteen of the 20 cities covered by the Case-Shiller report saw price gains in June from May levels, with Chicago and Minneapolis topping the list at 3.2 percent. Portland, Ore., prices were flat.
Denver’s single-family home price performance also bested the average for 20 major U.S. cities covered by the closely-followed monthly report, both for month-over-month and year-over-year changes.
The average home price fell 2.5 percent in the Denver area in the 12 months ending in June, while the 20-city composite index dropped 4.5 percent during the same period.
The prices are for resales of stand-alone single-family homes only, not new construction or condominiums.
Source The Denver Post and Bizjournals.com