The latest Federal Housing Finance Agency’s Home Price Appreciation by State report confirms that the unprecedented increase of Colorado home prices is not just a figment of the imagination.
With a one-year appreciation of 11.16 percent in the first three months of 2015, Colorado ranked No. 1 for its change in house prices since the first quarter of last year, climbing up three slots from its rank for the fourth quarter of 2014.
The state experienced a 5.23 percent increase in home prices from the fourth quarter, and a 20.94 percent increase from five years ago.
The nation, by comparison, experienced a 4.96 percent year-over-year increase in the first quarter, a 1.32 percent increase over the previous quarter and a 14.23 percent five-year increase in home prices.
Denver-Boulder-Lakewood was the highest-ranked Colorado metropolitan area, coming in at No. 14 with a 10.16 percent year-over-year increase in home prices.
With a 7.52 percent one-year increase in home prices, Boulder ranked 49th nationally and had the fourth-highest appreciation rate among Colorado metros.
All seven of Colorado’s metro saw home price appreciation rates increase year over year, quarter over quarter and compared with 2010, with the exception of Grand Junction’s decrease of 6.46 percent for home prices in the latter category. Pueblo was the lowest ranked city with a 4.84 percent home-price increase and coming in at No. 121.
Here’s a complete look at Colorado and its seven metros’ appreciation rates for the first quarter of 2015 compared with the national average and their rates for the fourth quarter of 2014:
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RE/MAX of Boulder