Home Prices Rise in Metro Denver and Nationally

Kentwood Blog

Home Prices Rise in Metro Denver and Nationally

Posted: 05 May 2010 08:14 AM PDT

Keep your fingers crossed, but the recovery of the nation’s housing market seems to be strengthening.  On April 28th, the Denver Post reported that home prices in February posted their first annual increase since the end of 2006, sparked temporarily by the federal tax credit for homebuyers. 

 Standard & Poor’s Case-Shiller Home Price Index showed a 0.6 percent gain.  Denver was among nine cities that showed a rise in home prices, with a 3.6 percent increase, the fourth-largest gain among the 20 metropolitan areas tracked.  Nationally, home prices were up more than three percent from the bottom last May.

 In a Post article published on May 5th, a surge in homebuying is the latest sign that the recovery is gaining momentum.  Orders to U.S. factories rose 1.3 percent in March, according to the Commerce Department.  Widespread activity in many industries offset a big drop in commercial aircraft.  The increase offers further evidence that U.S. manufacturers are helping drive the economy.

 Another report showed that more people signed contracts on previously-owned homes in March than was expected, also sparked by the tax credit incentive.  The National Association of Realtors said its seasonally adjusted index of sales agreements for previously occupied homes rose 5.3 percent from a month earlier to a reading of 102.9.  It was the highest level since October and a 21 percent increase from the same month a year earlier.

 Opportunities in the Denver Real Estate market remain very attractive, but many believe that now is the time to buy due to a projected full recovery in the housing market at some point in the not-too-distant future.  Visit www.DenverRealEstate.com and enjoy a rewarding online search before contacting a Kentwood Real Estate agent at one of three conveniently located offices.

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About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business!
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