Home prices in the United States increased 1.3 percent in April, according to the S&P/Case-Shiller Home Price Report.
Home prices in the Denver metro area have risen 2.8 percent in the past year and improved 1.7 percent since March, said the report.
The report noted that the upswing in prices comes after seven consecutive months of falling home prices nationwide.
In looking at 20 metropolitan area, Case-Shiller noted that 10 of the 20 areas saw positive annual returns – Denver, Boston, Charlotte, Dallas, Detroit, Miami, Minneapolis, Phoenix, Tampa and Washington, D.C.
“With April 2012 data, we finally saw some rising home prices,” said David M. Blitzer, chairman of the Index Committee at S&P Indices.
“On a monthly basis, 19 of the 20 metropolitan areas and both the 10-and 20-City Composites rose in April over March. Detroit was the only city that saw prices fall, down 3.6 percent.”
Blitzer said that while one month does not make a trend, particularly during seasonally strong buying months, the combination of rising positive monthly index levels and improving annual returns is a “good sign.”
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com on twttier @HowardPankratz
