The Denver Post

HOME PRICES ROSE IN OCT. AT 8.3% ANNUAL PACE

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

Newspapers in English

Newspapers from United States