Denver resale prices dropped in August year to year, but were down much less than the national average, according to a First American CoreLogic Inc. report, as reported recently by the Denver Business Journal.
According to First American’s Loan Performance Home Price Index (HPI), Denver metro’s average home resale price, including sales of distressed homes, decreased 1.44 percent in August from the same month of 2008. Nationwide, resale prices dropped 10.1 percent in August from August 2008.
The HPI data does not include actual sales prices but does include single-family homes, condominiums and townhomes.
By comparison, July home prices in the Denver area dropped 2.64 percent from those of July 2008, and June prices were down 3.21 percent year over year.
First American CoreLogic expects Colorado resale prices overall to be down 1.87 from August to August 2010, and down 3.07 percent excluding distressed sales.
