Thursday, May 16, 2013

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

According to a report released today by Trulia, the asking rent in Denver during April 2013 was up 4.3 percent from April 2012. Colorado Springs was also included in the report and, according to Trulia, year-over-year asking rents were up 2.9 percent in Colorado Springs, year-over-year during April 2013.

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 4.2 percent growth in metro Denver and 4.4 percent growth in Colorado springs, for the first quarter of 2013.  Overall, we think the Trulia report understates rent growth in Colorado Springs in recent months.

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 April by 1.8 percent in Colorado Springs and 12.1 percent in metro Denver.

The Colorado Springs market has been weaker in home price growth than the Denver area in recent years, due in part to the relatively weaker job market in Colorado Springs.

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.