Article on Denver Business Journal About Home Prices in Denver

Like most of you out there, we are very interested in how the housing market and the local economy are trending as we make our way out of the recession. We came across a very interesting article that was put out by The Denver Business Journal earlier this week about Denver Housing Prices. The author, Mark Harden, cites a report that came out on Tuesday from S&P/Case-Shiller Home Prices Index which monitors resale prices of homes in different cities.

One of the most interesting parts of this article and the report is that Denver is currently showing very high home prices – the highest they have been in over 7 years. Denver is one of the first cities to hit this mark. This means that for the vast majority of cities in the country, they are still seeing lower home prices as compared to pre-housing bubble prices. Denver has been seeing upward trends month over month.

One of the reasons that this is happening is that home builders slowed down during the recession and now the number of people who want to buy a home is more than the number of homes available. People are anxious to buy or sell a home right now to take advantage of lower mortgage rates and fear big rate jumps coming up. This means that home builders have some ground to make up! But for now it sounds like we will continue to see an increase in home prices in the Denver area.