The Denver housing market is on the rise with almost 7% increase on year-over-year according to Case-Shiller reports that were released recently. These gains are at their highest rates since over a decade ago and paint a bright future for the city's economy.
The Denver-area housing market staged a 6.9 percent year-over-year gain in October, according to the closely followed Case-Shiller report release today.
For the second consecutive month, Denver’s gain was the largest in more than a decade. October’s gain was slightly higher than the 6.7 percent year-over-year increase in September. The last time the metro area showed a larger year-over-year percentage gain was in November 2001, when prices rose by 7.6 percent, according to the S&P/Case-Shiller Home Prices Indices, which tracks 20 major metropolitan areas across the U.S.
October marked the 10th consecutive month of year-over-year gains for the metro area. In other words, every month this year tracked so far by Case-Shiller was an improvement over the same month in 2011.
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