Denver falls from the top of Case-Shiller home price increase index
The Denver skyline and the 'burbs. (Kevin J. Beaty/Denverite)
For a year, Denver has been among Seattle and Portland when it comes to highest home price increases measured by the Case-Shiller index.
But this month, Denver fell out of the top three. All hail Dallas, the new city with the third-highest year-over-year price gains among already built homes.
Denver is now the city with the fourth highest year-over-year home price gains, which still means an 8.5 percent price gain among already built homes.
In similar hot-but-not-scorching real estate news, Denver’s housing demand has fallen, but is still above normal, according to Redfin’s housing demand index.
Demand fell 21 percent in the Denver market last month, based on Redfin’s number of customers requesting tours and purchase offers.
Still, Denver housing demand was at 142, according to Redfin, where 100 is normal homebuyer demand. That’s well above Redfin’s national average of 107 too.
This squares with other housing metrics for the Denver metro. With low housing inventory as the law of the land, I’m not expecting big changes anytime soon.