Tuesday, March 5, 2013

Trulia: Rents and home prices up in Colorado Springs, Denver

According to a report released today by Trulia, the asking rent in Denver during January was up 6.3 percent from January 2012. For the first time in several months, Trulia did not list 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 4.0 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. However, rent growth rates fell from the third quarter of 2012 to the fourth quarter of 2012. 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 January by 2.6 percent in Colorado Springs and 11.5 percent in metro Denver.

Trulia's growth rates in rents and home prices tend to show more growth than other indices we consult, and we should note that these are asking rents and asking prices, not market 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.