The Denver Post - - BUSINESS - By Aldo Svaldi

Metro Den­ver, as it has done for most of the year, ranked third among the coun­try’s largest cities for its an­nual pace of home price ap­pre­ci­a­tion in October, ac­cord­ing to the S&P CoreLogic Case-Shiller In­dices.

Metro Den­ver home prices rose at an 8.3 per­cent an­nual pace in October, be­hind Seat­tle at 10.7 per­cent and Port­land, Ore., at 10.3 per­cent. It marks the ninth con­sec­u­tive month that Seat­tle, Port­land and Den­ver have held the top three spots on the closely-watched mea­sure of hous­ing in­fla­tion.

Na­tion­ally, home prices across the 20 large met­ros that the in­dices track rose 5.1 per­cent, on par with the pace seen in re­cent months. The weak­est pace of home price gains oc­curred in New York and Wash­ing­ton, D.C.

David Bl­itzer, chair­man of the index com­mit­tee at S&P Dow Jones In­dices, said high con­sumer con­fi­dence and low un­em­ploy­ment rates sug­gest home prices aren’t likely to make a sud­den re­ver­sal, de­spite the rise in mort­gage in­ter­est rates since the elec­tion in Novem­ber.

“Nev­er­the­less, home prices can­not rise faster than in­comes and in­fla­tion in­def­i­nitely,” he cau­tioned in the re­port.

The As­so­ci­ated Press

Metro Den­ver home prices rose at an 8.3 per­cent an­nual pace in October. Mark Leff­in­g­well,

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.