As reported by S&P/Case-Shiller yesterday, Denver ranked as the number 1 city in year-over-year home price appreciation in May. Single-family home prices rose 10 percent over May 2014 prices, besting San Francisco and Dallas. The 20 metropolitan index showed a 4.9 percent increase in May over May of 2014 which was less than the expected increase of 5.7%. This is an indication home price appreciation nationally, while still heading up, is slowing as compared to the last two years. This could indicate a more steady marketplace in which buyers can catch some “breathing” room from the fast paced run up in prices that has been experienced in the past two years. As reported in the Denver Post, Denver’s home price index rose to its highest level since recordings were kept beginning in 2000. Since January 2000, Denver home prices have climbed more than 67%.
Case-Shiller is one of the industry’s most reliable and tracked resources for home price indices and they track the top 20 major metropolitan market places.
