Tuesday, August 7, 2012
Corelogic: Colorado home prices up 6.2 percent
Corelogic's home price index for Colorado increased year over year for the fifth month in a row during June 2012, increasing to the highest growth rate seen since the beginning of the recession in 2008.
Colorado showed a 6.2 increase during June 2012. The June HPI report, released today by Corelogic, shows the national HPI rising by 2.5 percent, year over year.
The annual increase in the Colorado HPI of 6.2 percent during June mirrors to a certain extent other home price indices, such as the Case-Shiller index and the FHFA's expanded house price index. Indeed, the Case-Shiller index for May 2012 (the most recent data available) showed the fifth positive year-over-year increase in 21 months, with an increase of almost 4 percent.
The CoreLogic HPI shows that, nationally, home prices have fallen more than prices in Colorado and that Colorado prices are increasing at a faster rate.
In the June report, only 6 states reported larger year-over-year increases than Colorado. The states with the largest increases were Arizona and Idaho with increases of 13.8 percent and 10.4 percent, respectively. The states with the largest declines in the home price index were Connecticut and Alabama with drops of 4 percent and 4.8 percent, respectively.
The DBJ reports that the Denver metro area is up 7.2 percent over this period.