Home prices in the Denver metro area and the nation rose in June from the same month last year, the first national year-over-year increase since the summer of 2010. The increase is the latest evidence of a nascent recovery in the housing market.
, released Tuesday, showed a gain of 0.5 percent nationally from June 2011 and 2.3 percent compared to May.
Denver metro home prices were up 4 percent in June compared to a year ago and 2 percent compared to May.
Denver’s 4 percent was among the better performers among the 20 cities tracked by the index, trailing only Phoenix (13.9 percent), Minneapolis (5.7) and Miami (4.4).
All 20 cities rose in June from May, the second consecutive time in which every city posted month-over-month gains.
Detroit (6 percent), Minneapolis (4.8), Chicago (4.6) and Atlanta (4.4) recorded the biggest one-month gains.
“The combined positive news coming from both monthly and annual rates of change in home prices bode well for the housing market,” said David Blitzer, chairman of S&P’s index committee.
The monthly index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The June figures are the latest available.
