August 15, 2017 // Real Estate

Denver Feels the Heat

Home prices nationwide continued their upward trajectory through June 2017, causing four markets to reach “overheated” status according to the CoreLogic Home Price Index (HPI). The CoreLogic report notes that home prices rose 6.7 percent from June 2016 to June 2017, and forecasts an increase of another 5.2 percent by June 2018. Home prices have risen so fast in the nation’s ten largest metropolitan areas that four metros—Denver, Houston, Miami, and Washington D.C.—were identified as overvalued in June 2017. To arrive at that conclusion, the CoreLogic report compared current home prices to long-term, sustainable levels, a calculation that takes into account local market fundamentals such as incomes and job growth. In an overvalued or “overheated” market, average home prices are at least ten percent higher than the long-term, sustainable level. Denver hit that mark this summer, so even as the calendar turns to fall and skiing is on the horizon, the local real estate market is likely to remain hot.

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WK Real Estate

WK Real Estate

Founded in 1976, WK Real Estate is passionate about connecting people with the right properties and the best resources. We blend the latest technology with the best customer service to bring a unique, memorable and high quality experience to each client.

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