According to the LPS Home Price Index for June,
released Friday, the average house price in the Denver area were
up 3.9 percent from June 2011 to June 2012. According to the report,
the average home price was $241,000 during June 2012, up from $232,000
during June 2011. The year-over-year increase in Denver was the 5th-largest among the 40 cities surveyed. Only Detroit, Miami, San Jose and Phoenix
reported larger increases. The Denver average
price was the 12th-highest average price among the 40 cities surveyed.
In Denver, the average price peaked during Jun of 2007.
Nationally,
the average house price rose 0.9 percent from June 2011 to June
2012, rising to $203,000. Nationally, the average house price peaked
during June of 2006.
This
report
shows few surprises when compared to other home price indices for Denver
and Colorado. (See recent Divisionofhousing.com analyses of home prices
here.)
The Denver area has consistently shown larger increases in home prices
compared to numerous other metros throughout the nation, and home price
growth has accelerated in metro Denver and in Colorado statewide over
the past 6 to 8 months.
See here for the home price archives.
This
report also included data on statewide home prices for the 20 largest
states (by population). From June 2011 to June 2012, the home price index
in Colorado rose 3.2 percent, rising to $239,000. Colorado's increase was
the fourth-largest increase in the home price index among the 20 states
surveyed. Colorado's estimated median home price was the 7th-highest
among the 20 states surveyed.
