It’s good news for the Denver housing market. According to the latest S&P/Case-Shiller Home Prices Index, which was just released yesterday, home prices are at a five year high for the city of Denver. The S&P/Case-Shiller Home Price Indices are “the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.”
According to the Denver Business Journal, “The only major markets with greater gains than Denver in the year ending in September were Phoenix (up 20.4 percent), Minneapolis (up 8.8 percent), Detroit (up 7.6 percent), San Francisco (up 7.5 percent) and Miami (up 7.4 percent).” Home resale prices in Denver have not been this high since October 2007, when the index read 136.08.
“Home prices rose in the third quarter, marking the sixth consecutive month of increasing prices,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.