That was when a  Denver Post reporter used information provided by a local real estate broker to announce “Metro-area home prices rise 15% over a year ago”.  The broker (who presumably provided the data) was quoted and named in the article and did not refute the conclusion.  I guess “any press is fine.  Just spell my name right”.  In my evaluation, I concluded that it was an irresponsible use of “median” data and an irresponsible conclusion.

S & P Case-Schiller Wins Again

You will continue to see me refer to Case-Schiller because they use “same house sales” to make their evaluation.  And guess what?  Denver prices are up an overall 2.6% for January 2009 to January 2010.  And what else?  The same broker who seemed to support the “15%” increase is right there supporting and being quoted regarding the 2.8% increase. (Disclaimer – The 15% increase was generated as a “median” for February of 2010 and 2009.  The 2.9% is a year-to-year for January.  Case-Schiller is a little (lot?) more conservative and waits for final data.)

Is your home value up by 2.6%?

It may well be.  But as you are reading my blog you know that I continue to maintain that values are very local and what may be true for a home in Parker, may be different for a home in Green Valley Ranch.  Talk to a professional if you need to know.

Is this 2.6% a “sign”?

I am not so sure.  The tax credit “stimulus” has had some effect.  That ends from an “under contract” perspective on April 30th and a closing perspective on June 30th.  After that we will see how the unencumbered market responds.  There is still a lot of unemployment and not much job growth and we will need to see both of those before we have vibrant housing market.

Agree, disagree, have questions?

Leave a comment and I will respond.  Or, contact me directly.  I am an Exclusive Buyer Agent (EBA).  I choose to always and only represent the interests of my buyer clients.