Metro Denver Home Prices Continue to Rise

 The metro Denver area was one of six metropolitan areas recording a price gain from February to March, according to Standard & Poor’s Case-Shiller 20-city index released on May 25th.
 
 Denver recorded a month-over-month gain of 0.6 percent, and the local index is up 4.1 percent for the year, double the two percent increase in the U.S. National index. 

 According to the Denver Post, prices remain nearly 31 percent below their July 2006 peak, but have risen nearly three percent from the April 2009 bottom.  Many buyers took advantage of the government incentive program in April, giving the housing market its biggest boost in five months, according to the Associated Press.

 Nationally, sales of previously owned homes rose 7.6 percent to a seasonally adjusted annual rate of 5.77 million, according to the National Association of Realtors.  The increase in sales sparked a rise in home prices.  The median price for a new home rose to $173,100, up four percent from a year ago. 

 In mid-May, mortgage rates fell to the lowest level for the year and close to 50-year lows as worries over the European debt crisis sent investors rushing into the safety of U.S. credit markets.

 For more insight into the metro Denver real estate market and some of the incredible opportunities available for buyers and investors alike, contact a real estate professional with Kentwood Real Estate, and visit www.DenverRealEstate.com.

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