Home price gains nationally accelerated in August, but metro Denver’s momentum showed signs of slowing, according to the Standard & Poor’s CoreLogic Case-Shiller 20-city home price index.
The 20-city index rose 5.1 percent year-over-year in August following a 5 percent gain in July. Metro Denver’s index, by contrast, dropped from a 9.4 percent annual pace in July to an 8.8 percent pace in August, its slowest since January 2015.
“Earlier this year, price growth slid for five consecutive months and raised questions about where home prices were heading. We’re now seeing a reversing of that trend,” Ralph McLaughlin, chief economist at Trulia, said in a commentary on the August indices.
As has been the case for most of the year, metro Denver maintained enough home price appreciation to rank third after Portland at 11.7 percent and Seattle at 11.4 percent. Dallas is starting to get closer to Denver with an 8.1 percent gain in August.
Reports from the also show the annual pace of home price gains are slowing, although they remain in the double-digits, a pace much stronger than what the Case-Shiller index is capturing.
