Monday, September 10, 2012

LPS: Denver-area and Colorado home prices up in June

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 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.