FHFA index: Colorado, metro home prices show overall growth

Posted by Tom Kalinski Founder RE/MAX of Boulder on Monday, March 10th, 2014 at 8:59am.

Colorado’s home-price appreciation rates continue to outpace the national average and its ranking on the Federal Housing Finance Agency’s most recent house price appreciation index improved from the third to the last quarter of 2013. However, its quarter-over-quarter and year-over-year appreciation rates actually dropped slightly.

The state moved up from 12th nationwide to ninth with a year-over-year appreciation rate of 9.1 percent and a quarter-over-quarter rate of 1.8 percent, compared with the national averages of 7.69 percent and 1.2 percent, respectively.

However, the state’s appreciation rates lagged behind those of the third quarter, in which the year-over-year rate was 10.37 percent and the-quarter-over quarter rate was 2.32 percent.

With its year-over-year appreciation rate increasing from 8.11 percent in the third quarter of 2013 to 9.37 percent in the third quarter, Boulder’s rank improved from 60th to 57th, according to the FHFA.

The Denver-Aurora-Broomfield metro remained the top-performing Colorado city for home-price appreciation rates in the fourth quarter, although its rank – 44th – didn’t change from the third quarter and its rates remained around 11 percent year-over-year and 1.5 percent quarter-over-quarter.

Grand Junction’s home prices, which struggled the most among Colorado cities in the third quarter, actually improved in the fourth quarter: its year-over-year appreciation rate increased 5.71 percent and its quarter-over-quarter rate increased 4.22 percent. The city climbed from a ranking of 127th on the FHFA list in the third quarter to 80th in the fourth quarter.

Colorado Springs fell from a ranking of 89th in the third quarter to 116th in the fourth, and Pueblo was the lowest-ranking Colorado city at 231st, compared with 208th in the third quarter.

Here’s a look at how home prices for Colorado and its metros compared with the national average in the third and fourth quarters of 2013:

Tom Kalinski 
Owner and Founder
RE/MAX of Boulder

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