Friday, October 30, 2009

Denver fares better than nation in home resale prices

According to a First American CoreLogic Inc. report released yesterday, Denver-area home resale prices dropped in August year over year, but were down far less than the national average. First American’s LoanPerformance Home Price Index (HPI) showed that metro Denver’s average home-resale price — including sales of distressed homes such as foreclosures and short sales — decreased 1.44% in August from the same month of 2008. Nationwide, resale prices dropped 10.1% in August from August 2008. By comparison, July home prices in the Denver area dropped 2.64% from those of July 2008, and June prices were down 3.21% year over year. However, when distressed sales are excluded, August home prices were down less than 1% — .58% — from the prior-year August. July prices, not including distressed sales, decreased 1.26% and June’s prices dropped 1.68% year over year.