The year is ending strong, with continued price and appreciation gains, both month-to-month and year-over-year in Denver. October’s Case Shiller index hit 134 for the Denver MSA – which is just below the all time high of 136.04. The index increased 6.9% year-over-year.
The fundamentals continue to favor sellers, with the supply of homes not sufficient to meet the demand of buyers. With the first phase of the fiscal cliff negotiations past, more certainty can enable both buyers and sellers to be comfortable with their decisions regarding selling and buying. This will continue to place upward pressure on pricing.