Thursday, December 2, 2021

Denver house price hikes hit another record, but growth is slowing

According to the latest S&P CoreLogic Case-Shiller House Price Index for Denver, the Denver metro’s metro home price annual growth rate reached a new high in August of 21.5%, barely surpassing the previous record 21.3% gain in July.

But the monthly change in the Denver house price index in August was half the monthly rate seen in July, 0.9% versus 1.8%, indicating that future growth, while strong, will not be as robust. …

Denver’s annual gain has outpaced overall US house price gains by 19.8%. But there, too, the monthly growth slowed down, falling from 1.7% in July to 1.2% in August.

“In August 2021, the US housing market continued to grow,” said Craig J. Lazzara, head of global index investment strategy at S&P DJI in comments to the monthly report. “Each of our urban and composite indices is at an all-time high and year-on-year price growth remains very strong, albeit slightly slowing down from last month’s levels.”

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