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Denver Back On Top For Nations Biggest Homeprice Gains
From the Denver Business Journal 6/30/2015
By Mark Harden
Once again, metro Denver tops the nation's big cities for the heftiest home-resale price gains from a year ago, according to the latest monthly S&P/Case-Shiller Home Prices Index report.
Prices for detached single-family-home resales in the Denver area soared 10.3 percent in April from a year earlier, a greater gain than in any of the 20 cities tracked by the closely-followed report from S&P Dow Jones Indices and CoreLogic, issued Tuesday.
Previously, Denver ranked No. 2 for year-over-year prices gains in March, behind San Francisco, but was No. 1 in both January and February.
It's Denver's third straight month for double-digit percentage gains in sale prices.
April's average gain for the 20 biggest cities averaged 4.9 percent, and the national gain was 4.2 percent, according to Tuesday's report. San Francisco saw the second-greatest gain at 10.0 percent, followed by Dallas at 8.8 percent and Miami at 8.5 percent.
Economists Patrick Newport and Stephanie Karol of IHS Global Insight, a unit of Douglas County-based IHS Inc., said in an analysis note that the strong Denver gains reflect the fact that the city "appears to have suffered the least in the Great Recession [among most large cities.] Prices have been tracking steadily upward ever since, in part due to a healthy labor market. In the year ended April 2015, nonfarm employment expanded by 3.1 percent in Denver."
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