By Dr Denver H. Bubble
All 20 cities in the S&P Case-Shiller Index showed year-over-year gains. The index reported a 6.4% annual gain for the country in April, led by a 13.1% increase in Seattle, WA and a 12.7% advance in Las Vegas, NV. Denver had an 8.6% increase year over year. Month over month the rate of increase slowed. For the March/February period, the change was 1.4%. That decreased to a 1.2% increase from April/March.
The index is aligning with other regional data we are seeing from Denver, showing a slower spring season then forecasted, it will be interesting to see the June numbers next week when the reporting process begins and we can track to see if the decline continues. Be sure to keep an eye out for home sale inventory