By Dr Denver H. Bubble
Metro Denver home price gains were mostly running at 7% for the past year. That changed this month when home prices increased to above 8% in February 2018. The metro Denver home price index measured an 8.4% annual gain in February 2018, up from a 7.6% increase in January 2017 and a 7.4% increase in December 2017. This 8.4% increase was good for fourth place in the country behind San Francisco, Las Vegas, and San Franciso and tied with Detriot. All of the leading cities saw double-digit gains. The metro Denver area also outpaced the national average which was up 6.3% annually in February 2018. The last time metro Denver home prices annual appreciation was above 8% was April 2017. This data is coming from the S&P CoreLogic Case-Shiller Indices. It doesn't look like the pace of the price appreciation is slowing any time soon, but with more inventory coming on to the market it may slow the rate of appreciation.