Tuesday, January 8, 2013

Trulia: Denver and Colorado Springs asking rents up over 5 percent

According to a report released last week by Trulia, the asking rent in Denver during December 2012 was up 8.1 percent from December 2011. Trulia listed Denver among the metros with the largest increases in asking rents. Colorado Springs was also included in the report and, according to Trulia, year-over-year asking rents were up 6.2 percent in Colorado Springs during December 2012.

 The Division of Housing's 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 December by 1.6 percent in Colorado Springs and 12.7 percent in metro Denver.

An increase of 12.1 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. 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.