Lance

Home Prices in Denver Rise 1.8 Percent

 Home prices in the Denver area rose by1.8 percent for the year ending in June, according to Standard and Poor’s Case-Shiller Home Price Indices.  Denver ranked number nine of the 20 metropolitan areas tracked by the index, according to an article by John Rebchook posted on Inside Real Estate News.  Overall, the 20 metro areas tracked rose by 4.2 percent. 

 According the report, in June 2009, the Denver area housing market showed a 3.6 percent drop from June 2008.  Despite the drop a year ago, that was good enough for third place out of the 20 metro areas, showing how much the market has changed during that 12-month period.

 Peter Niederman,  CEO of Kentwood Real Estate, was quoted in the story, stating “That is why you have to keep these things in perspective.  Case-Shiller is important for seeing how Denver fares against other parts of the country.  I think the numbers are great.

 “We are still holding steady,” Niederman continued.  “It seems like some of these other markets have these huge peaks and valleys, while we have sustainable growth.  Our market has shown an increase in inventory, so it is not as robust as it has been.  But I like where our market stands right now.  I really do.  If we were showing these huge increases, it would not be sustainable, and would not be good for the overall market, because that would mean it is becoming over-heated.”