Denver Homes for Sale: Home Prices Increase 3.5%
Not to sound like a broken record, but more numbers came out again showing the continued market improvement for Denver homes for sale. These numbers include the sales numbers for Denver distressed properties.
Today's Denver Business Journal has the details:
Home prices in metro Denver continued the climb upwards in March, beating both the state and national numbers, according to the most recent home price index (HPI) report from CoreLogic released Tuesday.
In the Denver-Aurora-Broomfield area, the HPI increased by 3.5 percent from March 2011. That index included sales of distressed properties.That HPI also showed a greater increase than February’s year-over-year increase of 1.6 percent for all sales, including distressed – which are short sales and “real estate owned” or REO transactions.
The metro Denver area’s index without distressed properties increased 2.3 percent in March, compared to the same month a year ago.
These numbers continue to bolster the growing consensus that the Denver housing market is in the midst of a recovery. In fact, these numbers show a slightly larger recovery than some of the statistics we've seen in the past few months.
These numbers are a very strong sign. the fact that they included figures for both standard resales as well as Denver distressed properties (Denver foreclosures and Denver short sales) highlights the point we've been making for months: the foreclosure market is getting more competitive and you need to bid quickly and with strong bids.
If you'd like to talk more about Denver homes for sale or any of these market stats, give our team a call at 303-726-1874.
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