Denver recognized as one of the nation's hottest housing markets
The Standard & Poor's/Case-Shiller Home Price Index that was released August 28 showed that nationally, a housing recovery is making serious progress even as most U.S. markets are still being affected by foreclosures, according the The Associated Press. The source revealed that real estate in Denver is sizzling right now, and the index named Denver as the fourth hottest U.S. housing market. It focused on the top five hottest and coldest markets, looking at year-over-year gains.
In Denver, monthly annual sales increases have been posting since February, the AP revealed. The index provided further insight into the housing market by noting that nearly 21 percent of the sales that occurred in June were purchased by buyers who did not list the home as their primary residence, which could indicate that the buyers market is made up of investors and people buying their second homes.
According to David M. Blitzer, Chairman of the Index Committee at S&P Indices, the report released for this month showed all of the 20 major metros that were analyzed as posting an improvement.
Anand Nallathambi, president and CEO of CoreLogic, said in early August, "At the halfway point, 2012 is increasingly looking like the year that the residential housing market may have turned the corner."