Home prices in Denver remained flat in July from the month before, bucking a national trend which saw 17 of 20 metro areas posting monthly increases in home prices, according to the Standard & Poor’s/Case-Shiller Home Price Index released Tuesday.
But home prices in Denver were down 2.1 percent from a year ago, said the report.
Las Vegas and Phoenix were down in July compared with June, said the report.
Last month, the index showed home prices in metropolitan Denver increased 1.6 percent in the second quarter but were down 2.5 percent from the same period a year earlier.
The Denver Index is at 125.97 based on a value of 100 in January 2000. This means means a typical home in Denver has appreciated almost 26 percent since 2000.
David M. Blitzer, chairman of the Index Committee at S&P Indices, said the statistics reflected a seasonal period of stronger demand for houses, so the price increases were expected.
But he warned that while there have been four consecutive months of generally increasing prices, “we do know that we are still far from a sustained recovery.”
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com
