It probably won’t come as a surprise to many that home prices in Denver have been on the rise. But this statistic might raise an eyebrow or two: Those values have increased nearly 50% (49.3%) over the past 10 years.
That’s according to mortgage resource company HSH’s “home price recovery index,” which found that home value growth in the Denver-metro market has outpaced all other U.S. markets since 2006, including the other top cities of Austin, Houston and Dallas.
While the 50% figure is certainly eye-catching, observers note that, broken down over 10 years, the increase is less than 5% per year. The news should also serve as fair warning to buyers that waiting for the market to drop before jumping in has not been a solid strategy over the past 10 years. Those thinking of purchasing a home would do well to act now, as prices are predicted to continue their climb in the Mile High City.