From Inside Real Estate News:
Home prices in the Denver area grew by 5.4 percent on an annual basis in July, the biggest year-over-year percentage gain in more than a decade, according to the closely watched Case-Shiller housing index released today.
The last time that Denver had shown a bigger year-over-year gain was in January 2002, when housing prices rose by 5.7 percent, according to the S&P/Case-Shiller Home Price Indices.
The percentage gain ranked Denver No. 4 of the 20 metropolitan statistical areas tracked in the index. Phoenix was No. 1, gaining 16.6 percent, followed by Minneapolis at 6.4 percent and Detroit at 6.2 percent.