COLORADO NEWS

Denver home prices up but not as much as U.S. average

Jun 4, 2024, 12:04 PM | Updated: Jun 5, 2024, 12:56 pm

Despite mortgage rates being up, home prices across the U.S. are still up. The price increase is attributed to low inventory across the country despite mortgage rates being around 7%.

In the Denver – Aurora – Lakewood area, data shows that home prices in 2023 were up less than the national average at just 4.2%. 

Over the last quarter Denver saw home prices still tick upwards at .1% increase, while Colorado Springs saw their home prices drop in the last quarter by 1.7%.

The top 5 U.S. cities with the biggest home price increase in 2023:

  1. Allentown-Bethlehem-Easton, PA-NJ: 16%
  2. Charleston-North Charleston, SC: 15.4%
  3. West Palm Beach-Boca Raton-Boynton Beach, FL: 14%
  4. Bridgeport-Stamford-Norwalk, CT: 13.7%
  5. Rochester, NY: 12.9%

Colorado incomes among highest of states in 2024

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Denver home prices up but not as much as U.S. average