For the ninth month in a row, metro Denver home sale prices rose in October compared to a year earlier, according to the CoreLogic Inc.'s home price index (HPI) report Tuesday. Home prices in the Denver-Aurora-Broomfield metro area increased 9.2% in October from a year earlier. Those numbers were for all sales, including REO, or distressed, properties. The HPI for resales excluding distressed homes stood at 8 percent in October compared to October 2011.
“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.”
CoreLogic research shows that all but five states are experiencing year-over-year price gains.
Statewide, Colorado’s HPI rose 7.3 percent in October from a year earlier, including REO property, and 6.1 percent excluding distressed homes.
In case you are wondering, we are far past the so-called "bottom." The market is continuing to improve...which is great news for everyone!
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