According to a report released yesterday by Trulia, the asking rent in Denver during October 2012 was up 9.4 percent from October 2011. Trulia listed Denver among the metros with the largest increases in asking rents. The asking rent was up year over year by 9.0 percent during September.
Colorado Springs was also included in the report and, according to Trulia, year-over-year asking rents were up 5.5 percent in Colorado Springs during October 2012. Asking rents were up 4.5 percent, year over year, during September 2012.
Our own survey shows increases in rent also, although our data, which is based on actual rents collected via survey, shows smaller increases, year over year.
Trulia also reported that asking prices for homes were also up in Colorado Springs and Denver metro, with asking prices up year over year during October by 1.0 percent in Colorado Springs and 10.1 percent in metro Denver. During September 2012, the year over year changes were 1.2 percent and 8.7 percent, respectively. An increase of 10.1 percent is well above other home price measures, and this reflects asking prices, not sales prices.
See our home price archive for more complete info.
Based on asking rents and asking prices, this data shows some pretty large increases. Actual prices and rents increased in other data, but, as expected, by smaller amounts.
The continued trend here is upward, which reflects a variety of other measures of rents and home prices. Levels of increase, however, are likely smaller than what is estimated in the Trulia report.