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Sixth Straight Month – Denver Home Prices Rise28 Oct

We always like to share good news when we find it.  Even though prices have not fully recovered, they are on their way back up, and that is definitely good news.

Denver-area home prices rose for the sixth consecutive month in August but were still lower than the same period a year ago.

Area housing prices were up 1 percent compared with July but down 1.9 percent compared with August last year, according to the Standard & Poor’s/Case-Shiller home-price index.

Home prices in the 20 U.S. cities Case-Shiller tracks rose in August for a third straight month. The index increased 1 percent from July but was down 11.3 percent compared with the same period a year ago.

“Obviously, it’s one more concrete sign of stabilization in the American housing market,” said economist Jeff Thredgold of Vectra Bank Colorado. “A few months ago, they were down 18 or 19 percent.”

The Denver area’s numbers are better than the national numbers because the region didn’t have the huge run-up in prices from 2003 to 2006 that some other areas did, Thredgold said.

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