Colorado home-price increase lands it in top 10 FHFA ranking

Posted by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, October 2nd, 2012 at 10:48am.

Colorado’s home prices increased 4.83 percent from the second quarter of 2011 to the second quarter of 2012, improving its ranking from 38th  to ninth, according to the Federal Housing Finance Authority.

U.S. house prices rose 1.8 percent from the first quarter of 2012 to the second, the biggest increase since the fourth quarter of 2005, the FHFA reports. Year-over-year, national home prices increased 3.03 percent in the second quarter of 2012 compared with the same three months in 2011, which means the U.S. performed better than some of the top 25 states.

Colorado landed among the top 10 states despite the fact that none of its seven metros’ appreciation rates were among the top 20 metros’ prices. The Denver-Aurora-Broomfield metro had the highest-performing home prices for the year, increasing 2.44 percent in the third quarter of 2012 compared with the same period in 2011, and increasing 0.82 percent from the second quarter to the third.

Although it witnessed a decrease in its one-year appreciation rate, Boulder County managed to stay in the top 55 metros nationwide – it ranked 53rd – for home-price appreciation with a year-over-year third-quarter rate of 1.47 percent. However, that was down considerably from the 2.35 percent home-price increase and 10th ranking in the first quarter.

Fort Collins-Loveland also dropped in the rankings, from 11th in the first quarter to 56th in the second, while Greeley jumped from 58th in the first to 32nd in the second quarter. Grand Junction also improved from 272nd in the first three months of 2012 to 250th in the second quarter. Pueblo was the lowest-ranking Colorado metro, coming in at 251st.

The metro made up of Phoenix, Mesa and Glendale, Ariz., was the top-ranked metro nationwide for home price appreciation rates, with an increase of 5.98 percent in the second quarter of 2012 compared with prices in the second quarter of 2011. Arizona saw a 12.93 percent increase in home prices in the second quarter compared with a year ago, earning it the top position among states.

Here’s a look at how Colorado and its metros’ home price appreciation rates performed in the second quarter of 2012 compared with the rest of the nation:

Tom Kalinski 
Owner and Founder
RE/MAX of Boulder

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